Potential Pause Before The Storm...

The main reason for my pause in bearishness is due to the fact that the RVX is not leading the VIX higher.  This may correct itself as early as tomorrow but for the here and now I am willing to let the market tell me what it's next move is.  As you can see in the charts below, the VIX was attempting a breakout above the April highs while the RVX was NOT confirming the move.  This COULD indicate a day or two reprieve from the market sell off. Tonight's action in the futures should give some further clues as to if there will be better shorting opportunities in the days ahead.