We crashed on the downside. Will the current upside “crash” continue?

SPX -what panic do you fear?

The move higher is much stronger than the move lower. First bigger resistance is at 4400. This is where the negative trend line comes in. Let's see how this develops from here, but VIX remains rather "fearful" and don't forget that vol explosions take time to "feed through" the system. What this market probably needs the most is a consolidation before any new meaningful direction takes place. Volatility is huge, but we lack new direction...