Higher odds of rebound

Commentary:

• VIX gapped up and is close to previous peaks we saw in the year when market dropped substantially.
  
• There is uncertainty in terms of FOMC meeting outcome on Wednesday 2pm and geopolitically issues pertaining to China.
  

Observations:

• Market is extremely short at the moment
  
• VIX is close to previous highs
  
• VIX is making higher lows and lower highs
  

Opinion: There are higher odds of seeing a market rebound in a short term period. Not a certainty but only HIGHER ODDS.