it's hard to call this a decisive wrebreakdown.have seen the vix come down for a few months at a time. not necessarily a bearish indication for the s&p 500 but it does make sense people are concerned about it because it has topped in the past. >> is it accurate to gauge how fearful the market is or should we look at something else? >> i think we need to look more broadly. one transaction al indicator. we can look at the issues not quite set up the same way and the investor polls and engage investor sentiment by reading the headlines. it does not seem overly complacent looking at the market that way. >> looking at it themselves, where do you feel the marketed wi will go, up or down? >> i think it will be up over the next several weeks. we cleared a couple resistance levels in the chart. the next level in my work is around 1440, based on the may 2008 high, another resistance level. positive mo mmentum supports th market and see consolidation in the days ahead that will give way to further gains. >> the vix suggests the market is it c