if you refer to my post yesterday( http://tradersbase.com/daily-review/dow-breaks-trend-others-do-not/index.html ) I talked about a couple markets holding trend lines that should break down this week. Well they  all broke except for the VIX.  Dow broke down yesterday and today the S&P broke down and the transports broke down. To my suprise the VIX did break it’s down trend but did not close above it. This means to me that the fear is not baked into this market yet and we could have more room to fall.   The markets should find a little support here as we approach the 50ema and a piror breakout level that has acted as support a couple times.  I would like to get some charts up but it’s really late.  So look for a little bounce or some chop but I do expect more selling.