Graphs O-Plenty, but the VIX will RULE mañana

At this point there are compelling arguments for both Bear and Bull technical analysis. Triangles broken, triangles intact, 50 day moving averages setting just above the tops of channels, lower highs, higher lows, market leaders (GOOG, AAPL, etc) down on an up day.......MIXED SIGNALS. It would be a waste of time to argue either side, because the bottom line is nobody freaking knows.....
The one extremely interesting chart for me is the VIX. Check out the last chart in this post and note the support line and longer term trend lines from the bottom. I believe the VIX is making identical higher patterns and we are currently testing the bottom of the third pattern. Basically if it bounces off of today's lows and moves higher the market will tank. If it breaks through 22 to test 19 or lower we move higher till 17 bottoms on the VIX. Keep in mind the overall trend is still lower until we break 1400 on S&P 500 and 12,800 on the DOW. And even if these levels are broken to the upside, I believe we will still test the lows of 1/22/08 before truly continuing a BULL run.

In short, trade the volatility like a sober fraternity boy at a Sorority initiation celebration: carefully and quickly.