Bulls are in charge… $VIX should drop below 16.05 today, which was the level from which our last signal fired (11/11 close, from which we spiked 25% last Friday). This is an indication that the 11/13 warning is more likely a false alarm. Given this, I think we can lower the threat level. Next levels to watch on $SPX would be the most recent peak around 2015, then all-time highs at 2034. A break through either could mean the bulls drive us into year-end. Meantime, #Earnings plays in $FL, $ZOES, and $WSM look solid, and $SPLK iron fly will probably maintain at least a small profit.