Is it enough for one day ... but what about the days ahead?!

Well of course VIX is above that downsloping trendline, whichever was the "right one" (see yesterday's post about the "magnifying glass" on that point). It is above the 20-MA Bollinger Band midline, and poked up to the 50-day moving average. Maybe that is enough to contain VIX at least for today:



Naturally, however, looking at today's action so far on the S&P 500 daily chart cannot be too enouraging for the bulls. So I don't want to get into the game of trying to predict just how low is enough for today, but just to point out that this action isn't encouraging for the case that there's more of a rally in the days ahead: