Today the market gave back yesterday's gains and then some as the red uphill VIX channel has become the dominant channel for now as can be seen the the bottom chart. What will happen tomorrow? No one knows...we are in the land of the one day market.
The market was gapped up big in premarket this morning and it has squeezed a little higher. Right now the NASDAQ is trying to cross its Day 50 EMA line which could start a huge squeeze if we successfully cross above it.