Things continue on track, though as we discussed yesterday VIX has jumped the gun — reaching our Mar 14 target today, three sessions early.ES is closing in on our next upside target (though it’ll need help jumping the channel midline at 2761.)  And, SPX should have no trouble reaching today’s target at the purple channel midline (about 2757.)

It remains to be seen whether or not VIX’s early breakdown from its rising channel will present a problem.  The dramatic drop that was due next week is essentially being paid forward.  But, it’s all good as long as the algos continue to see drops.

continued for members...

I’ve added an additional downside target for VIX at the yellow channel bottom.  We might need it.

ES, still on track.

UPDATE:  11:00 AM

A quick glance at rates and currencies.  TNX broke out a little this morning… …giving DXY a boost……especially as it relates to USDJPY.  Note that USDJPY has popped back above the white midline and has a clear path higher if need be — perhaps to give VIX a chance to reset if CL/RB continue to slump. I’ve moved EURUSD’s target to next week in order to accommodate a potential CPI driven slump in the USD.As soon as ZN tags the yellow channel bottom around 118’220, we should see that drop in TNX.  I’m thinking when Feb CPI is released on the 13th.SPX, ES and VIX:  SPX is up 1% today, needs to maintain 0.8%/day to reach 2834 by the 14th.  That would put ES at 2838. also its .886. I’m going to knock off early today.  I hope to some updates over the weekend.  But, for now, things look pretty much on track.

GLTA.