Bulls are patting themselves on the back today and well they should. The day started ugly with everything lower and VIX testing Q4P; and we know what happened from there.

Current USA leader DIA even finished above its Q4R2
SPY also held Q4R1 as support
QQQ weaker - per my tweet of yesterday - and working for the bears
IWM while it could have been worse has been drifting lower for most of Q4 so far
VTI could have broken Q4R1 but rallied back to finish above; NYA testing level

VIX was the real tell, per my tweet this morning: "If mkt drop is for real then $VIX should stay above 10.97 and then in real -5% index scenario would be above 12.28."

VIX dropped below 11 in a hurry and continued lower all day.

Tweeting from @pivotalmomentum usually near the open.

SPY, DIA, QQQ and VIX below.