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(8/23/14)
The Volatility Index (VIX) is quickly dropping back towards its
previous low made in early July just above the 10 level. If the 10 level
is retested this would set up a Double Bottom pattern in the VIX which
would likely be followed by another surge higher as we move into the
Fall. Meanwhile the S&P 500 is exhibiting a 5 Wave affair since
February and appears to be in the last wave up. If the VIX reaches the 10
level next week then we may see the S&P 500 peak as well followed by another
correction in the Fall. 
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