SPX and ES got all the way up to their SMA200s – the most significant overhead resistance – on yesterday’s vol collapse. Last night, an additional 4% smackdown in VIX put ES over its SMA200.

continued for members…

Holding the SMA200s will be key for the bulls. If they can, then the .886s are back in the picture. The overnight ramp and the momentum from gapping above the SMA200s should provide enough cushion that, even if AAPL disappoints, the resulting downturn should see the SMA200s as support.