It all comes down to follow through. If the market shows strength today and the VIX is broken below the noted support level, da bullz be in biznizz. We cannot control markets so we do the next best thing; we try to find as many early warning indicators as possible (e.g. the breakdowns of the EMA 20 & SMA 50 on the broad market daily charts) along the road to wherever we are going. There is a big picture, macro plan for sure. But the short term stuff along the way can be a real bear can't it?So, speaking of short term, the 60 min. chart dials in a clear view.
