If we see massive follow-through selling on high volume tomorrow, then it will be bad. A breach of a support line doesn't mean anything unless there's conviction in that breach. Last June, S&P closed below it's 200 Day Moving Average 2 days in a row only to rally for the next 4 months after. But the VIX is indicating no more fear than we have had in the past 3 weeks... And it could hit 1390 or 1400 as early as tomorrow... And even if S&P hits 1360, that's not going to do much for the VIX (Look at today). If that happens, we could see VIX at 20-21, but not backwardation in the futures. We breached the 200 Day today and VIX is only near 18... So what's your take on the decline in the VIX today with the market selling off 1%??