Just an in-day status report. As of 1.5 hours into the regular session VIX is recoiling back to the EMA 20. There is no telling whether it will resume upward or pull back and paint yet another failure at the EMA 20. But as it stands now the latter scenario – and its implication that the market can rebound – is in play.
On a related matter the market leader, NDX continues to hold its EMA 20.