I think it might be headed back up. VIX went down with the Dow down over half a percent which means put sellers are back. TLT went up 1% today. I would think it would sort of back down a little. 1% up day for treasuries is pretty significant. VIX backing down to around 11 with TLT backing down with low volume would be a tremendous setup for entering positions for another bearish phase in the stock market.