VIX could explode into the mid 20s at any point.
sp'60min
vix'60min
Summary
From a MACD cycle perspective we getting kinda close to a bullish cross, but..even if we get one, I don't think it'll last very long. Certainly nothing the bears holding short across multiple days should worry about.
I will hold short until the Thursday open at least - where I'm thinking there is a fairly good chance of a significant gap lower..maybe even as low as 1310 - if we can break 1325 today.