The VIX flipping bullish

The past three days shows something we haven't seen in months: a break of the support trendline. This means two things: first, a bullish indication; second, a decrease of volatility pricing heading into the FOMC meeting next week. The market is signaling it is becoming less afraid of the FOMC meeting outcome because it knows what the Fed is most likely to do.

Over the next three days, we could see the VIX rise and retest this trendline from the underside or less. That would portend a bullish run in SPX going into the end of the year.