The trend is heading higher we'll just have to wait and see what tomorrow brings. I would still not be surprised to see 33 or 35 as this mornings sell off was fun and profitable, but not the 30-40 point move down to SPX 1175 that I expected. There wasn't that much stress selling and the quick and massive reversal was evidence of this.
The fact that the SPX closed down 13 points (the reversal didn't hold) shows us that the selling is not over yet.
VIX Daily Chart: Uptrending and 33 and 35 still look like good targets
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