I would really prefer that the stock market lows of last Friday will continue to hold to keep a more bullish case in tact. That view looks questionable though as I write this after the Thursday close. 

I exited some of my long positions Thursday morning, but still have some long positions on. 

If VIX continues to rise it is going to put added pressure on bulls like myself. Hence if VIX closes higher Friday than it did Thursday  I will exit my longs. 

Right now I am still bullish, but will pull the plug if its indicated. And the clue to do that will be further rise on VIX.

Thanks,

Joe

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