VIX at Overhead Resistance..(Maybe)...11.01.16

Downgrades on Apple and HD soured the markets out of the gate as a SURPRISE!! huge oversupply of crude inventories was announced. We've mentioned the highly manipulated crude inventory reports and this is another glaring example.
The VIX shot up as the day wore on and finished in overbought territory but the bleeding may not be over yet...even in the face of generally good earnings reports.
Weekly bars shown below.
Finally, at the bottom of the post a possible SPY bearish put spread setup pre -election.
It's probably premature to establish this spread with Friday or Monday being a more likely start date.

From the Schwab Options Trading Desk>>