VIX and TLT (bonds) spike to highs as banks test support

Bonds just haven't wanted to collapse to new lows under the multi-month range! And the VIX did move up well above the "ABC" type push up that I was expecting. A huge spike up just as with bonds. This shows in the charts below. Meantime the banking index ($BKX) managed to close right by its 50-day moving average after having spiked under it intraday (though I didn't include that chart below). Do look at the gauge copied below from SentimenTrader.com - it's showing a bullish sign for the stock markets! It's almost at the edge of extreme pessimism near-term, and rather close for the longer term. While this doesn't guarantee that the turn was put in today, it does suggest that a good bounce will be in order (if not now, then soon).