Bull flag...

Looks like a bull flag on SPY. There might be one more day down...but its looking up to me.
We hit the middle of the channel on the VIX. I think a sharp drop will be coming Friday and into next week.

We are at a key point, stochs are still extremely overbought, but how long can they stay that way? VIX looks like it may drop into the teens if the red trend line breaks...