I feel more upside is in order no matter what the number was… yesterday was first day of VIX closing below the Fib 78.6%… this is a signal that downside risk could be ending… three consecutive closes below that line on the VIX (16.93) has historically meant a continued uptrend for weeks or months. But if we can’t hold VIX down there for three days, it could bounce into more volatility.