VXO..

http://stockcharts.com/c-sc/sc?s=$SPX&p=5&yr=0&mn=0&dy=7&i=p27200667552&a=119816771&r=28.png

For the Q's, QQV looks similar..... Coming off overbought...

Tea, thanks for your counts on SPX, they've been real helpful for me in establishing some positions these last few weeks. No TA here, but I would like to point out we have a lot of Headline risk this week which will probably influence your counts. Tomorrow, I think there is a strong chance we make the decision to move strongly up or breakdown to that lower low you've been posting about on SPX. This VXO seems to further confirm that, as any spike here probably says we test lower. Otherwise, I think we have that IT bottom. 1) Citigroup can surprise 2) Inflation could surprise 3) Government data on retail sales.