Tuesday

The VIX did a touch and go off the bottom of the fork I showed a few days ago.
Here's an updated chart.

Here's a Squeeze chart of the Weekly.

I'll let you find the relevance.

1307 will offer a lot of resistance. While the market is hesitating to take the plunge through the 200 DMA, sooner or later it will break, and break hard when it does.

The market just closed so here's the e-mini.

Keep in mind that this White Fork is only a minor fork in the context of the much larger fork from 2007.
A break through the bottom is possible.  The 2007-2009 fork was about 430 handles, and the 2009-2011 fork was about 390 handles wide.  So far this fork is only 65 handles wide.

A couple of Fibonacci Ratios were included.  Price is near 38% and 50%.on the other

I'll leave you with this Fibonacci Fan chart.  

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12:30
Internals are strong this morning and Price has broken through the yellow fork which I will now abandon in favor of the white fork. This could turn into a multi-day up move. 1297-1307 area will offer strong resistance.

The major trend remains bearish. This white fork remains viable up to 1307 where very heavy resistance will be waiting to turn the market.

Currently the 20 DMA is at 1293.4. This too should offer resistance.