I am going to be showing more of the individual months in the futures charts as I see far too many differences with the cash charts. This is the March chart and I would have to review the specs again, but I think it only trades for 4 months in a year. The next chart would be the June 2016 contract month. The cash chart was still pointing up when this chart already was heading down. That is a big difference when trying to count
At this point it is a do or die situation if the SP500 makes a bottom that will hold, as this morning it started another correction. The VIX is full of gaps below present prices, so there is room for the SP500 to rally as the VIX gaps get filled.
I am sure another trillion US dollars went up in smoke around the world this morning, as Janet Yellen better fire up the printing presses with a new powerful electric motor as raising rates is not going to bring those evaporated dollars back to life again.