According to Schaeffers' Todd Salamone, "Bulls Face a Hurdle in Post-Expiration Week Blues" - check it out at http://www.schaeffersresearch.com/commentary/observations.aspx?ID=92481. Based on what's been posted here in recent days, I sure couldn't disagree. Just my VIX charts alone show that, because the VIX tested a key Fibonacci retrace level that's likely to provide important support. While there's been discussion in analyst circles lately about whether the VIX really measures fear, this index does measure volatility and in my experience is susceptible to Fibonacci levels as well as trendline structure. So my VIX chart is saying this is a key level that either propels the VIX higher, or if ultimately broken would become a significant "tell" for the more bullish case.
You can see my VIX chart showing this as I posted and discussed on Friday, using the "VIX" label in the labels list at right. As always, be careful out there, folks; and, happy market navigating!
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