Only reason market is up is that the DAX went up to 6450 as the US markets opened and the markets are in a consolidation pattern, bouncing off of upward trending trendline support. Once DAX closed, market dropped back under 1330. If rally is to continue, 1330 level must be taken out and maintained. Interesting thing is, however, that the VIX did NOT drop below 21. When market rallied last Monday, market made a high around 1328 while the VIX dropped to 20. But after making a high around 1335 today, VIX only dropped to 21. European markets are in the final stages of consolidation, so once they break down within the next day or two, US markets will follow. This is a chance to unload any long holdings and cover any VIX shorts. Today was the tell. VIX is still in its cycle and wants to make a new high before it makes a new low. With 21 being huge support, the only direction for the VIX is up. Today's action is just noise. This week, we should see selling pick up.