VIX going to break above 30..

Did a double take, but the futures are down big right now...

"HONG KONG (MarketWatch) -- Asian markets were battered Monday, with fears the U.S. may slip into recession triggering heavy selling that dragged down the indexes in Japan, China, Hong Kong, India, South Korea and Singapore by at least 3%."

The volatility index continues to be my gauge on the market direction.. Based on futures right now, the triple top on the VIX will break to the upside. That break above 30 is bearish for the market. I continue to expect a pause from the market selling, but since the fed did not suprise on friday (like everyone wanted/expected), and the rising VIX chart is ready to break out, we can continue the selling...

tb