#VIXindicator Based on the $VIX close under 21.17, the Downside Warning is canceled. It first went into effect on January 20th, was canceled on Feb 9th, only to be reinstated only two days later on Feb 11th.
The arrow on this chart shows last time it was canceled. (Feb 9th).
So while it is usually a pre-cursor to an extended rally, the better sign will come with an Upside Warning, which will require two more CONSECUTIVE closes below 21.17.