The VIX is only up +4% here at 46.34, which is far away from the aneurisms associated with Q4 of 2008, when volatility was 40-45% higher. Provided that the VIX stays in check under the 53.96 line, I think this is a very trade-able SP500 range that we can nestle into. See chart below for the Trade(dotted red) and Trend (thick red) lines that we could easily bounce to.
Keith R. McCullough
CEO / Chief Investment Officer