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[Rogerdodger]

Looking at the $VIX BBs, often you will see a touch and reverse.
The price looks like an obvious support area.
If we lose price support, BBs will expand rapidly. (See May)
However May had a tight compression before the explosion.
I mentioned this weekend that I thought we could see a bounce near 140 on the SPY.
Our low today so far was 140.25, The RSI 2 neared a buy at that area.
http://stockcharts.com/c-sc/sc?s=$VIX&p=D&yr=1&mn=0&dy=0&i=p68884666374&a=27927380&r=3663.png
http://stockcharts.c...0738&r=3596.png


I still don't like that broken trendline, but a back kiss would not be unusual.
Utilities suck.
I'm leaning towards Peter Eliades view as mentioned in the New Market Analysis Area.