Still time for last hour sheninagans but does appear today will be largely a sideways day which could be construed as more consolidation. VIX dropping even more today yet again despite a red day in SPY. So either more complacency before a drop or just winding up to move equities higher. I'm still holding SPY longs from yesterday and will probably hold over weekend. Assuming we move up early next week, a key thing will be to monitor the strength of the move. If it fails we could end up slipping back down but lack of fear so far paints a supportive picture for bulls. It could all change next week but for now it is how it is.
Maybe another 1-2 weeks until VIX hits a harder bottom