VIX'60min
VIX'daily
Summary
Despite the red close, the bears should be reasonably content with how we closed. The hourly MACD (blue bar histogram) cycle is now fully reset, and there is good potential for upside across all of Thursday.
First target would be VIX 20'21. A daily close >20 would be very significant, and would open up the secondary target zone of 24/26.
It is possible we could snap higher into the mid 20s, if we slip lower in the indexes to sp'1375 - where there is secondary rising support, and also the big 200 day MA.
more later.