A break and hold below channel support on the SPX:VIX ratio pair would indicate
further weakness to come in the S&P 500 Index, as shown on the Daily chart
below (as observed in intraday action on Thursday).
The RUT:RVX ratio pair
is approaching channel support, as shown on the Daily chart below. A break and
hold below would also signal further weakness ahead for the Russell 2000
is at the bottom of the rising channel, as shown on the Daily chart below of the
Major E-mini Futures Indices.