A little bonus for the bears just after the close (VIX trades for 20mins after the 4pm close), VIX closed in the 24s. This is a good significant move higher, with the target for this new wave somewhere in the 27/29 zone - probably within the next 2-4 trading days.
VIX, daily, bullish outlook
The bulls could not break the VIX below 20 yesterday, and today we've seen a good confirmation for the bears. We have yet to see any major panic/capitutalion day/s in the market...the VIX looks set to jump higher in the coming days.
If Sp' can break below 1270 early next week, then there is the chance VIX could briefly break into the low 30s.
More later...looking at the daily index cycles.