Update 3/18

SPX took out the Dec. 2018 low and fell somewhat lower.  However, it bounced going into the close and ended the day above that low.

There is a possibility the Dec. low holds for now and causes a bounce.  It is along ways down to the next support level so that would be a good thing.

The futures show the break below the recent lows and recovery back into what looks like a consolidation.  This is the best looking bounce setup yet.  Will the bulls step through the door?

What I am looking for as a good indicator of a short term bottom is for the VIX to plunge at least 13% in one day.  We have had several big bounces, but the VIX did not meltdown on any of them.  It is up to the bulls now.

Peace and good health to all.

Bob