Also, watch the action of the market toward the close. If the market doesn't close at the lower range of the day, this volatility explosion just might be over just as soon as it got started. It will trap LOTS of VIX/VXX bulls and the market BEARS. That's what the market does. It destroys the maximum number of people.
Since so many people were "calling" for the market correction, they are using this Egyptian situation as a catalyst. It has very little to do with what the market in USA will be doing a week from now, let along a month or two from now.
Again, be fearful when others are greedy, be greedy when others are fearful.