Humming

The QQQ spent the better part of today humming off of the inflection zone near $32, we’ll see if it can hold for the rest of the week.  The markets needed a scare, pessimism should return quickly.  I will update the count shortly.  The VIX is now testing 40 as anticipated earlier.  Its hard to say what is going to happen but if the VIX can push away from near the 40 area and head lower, then higher prices seem likely.  I will be interested to see sentiment metrics after the threat of a big sell off rears its head once again.

6:35 PM