Whilst the main market shows a little weakness, consider the Euro currency, which is currently sporting a very prominent black fail/doom candle on the daily chart. Having broken key resistance, a break back into the 1.30/29s would be a problem.
As I noted last night, the currency situation is already starting to move beyond the border, and the dollar is breaking an trend that goes back to spring 2011.
Yet, today's Euro candle is suggestive of a possible top, at least for a few days.
Without question, I won't have any confidence until I see USD back in the 80s, which would probably equate to Euro 1.29s
As for the indexes..
Its nothing to get excited over. I'm very much going to remain in the mindset of 'call me when we're <1413'.
VIX is +8%, but 5-6% of that move is likely due to futures contracts moving to the next month out.
Give me a call if we break into the mid 17s tomorrow..with sp <1425, otherwise, this is all meaningless noise.