Hard to say but it looks like we will be travelling to the bottom of that rectangle. Speaking of rectangles, is that really a rectangle formation? It appears to me to definitely have a bullish bias as each "touch" of the upper line is higher than the previous.
BPSPX:CPC 2o ma's are getting ready to cross up on the 50. Note that today was a big down day but the BPSPX:CPC was up...CPC actually went down by a significant amount...Lots of calls were being bought.
Vix almost filled the gap...pretty damn close. Its near the middle line, I would suspect its time for it to travel to the upper BB again. It is near the midline so it could reverse here.
VIX:VXN definitely giving a sell signal.Mainly based on the VIX:VXN I think tomorrow will continue to be a down day. Playing it slowly...waiting for the BPSPX:CPC 20 ma to cross up and then back down before I take another large bite in the market. Currently still holding a medium small short position.
