VIX Chart Tightens

I will try to put up a chart later tonight. Just no time. The VIX chart is extremely tight right now. Some key stats....

1. 20, 50 and 200 dma's are all merging together in a flat approach. This is a sign of consolidation. The VIX did this in August as well and was followed by a steady move up in the market and then the mess known as Lehman.
2. Lower and Upper trend lines are converging into a triangle. What will break first?
3. VIX is close to the lower trend line and PCR is near the bottom, heavy on calls. This is normally a bearish signal.

I think the market moves slightly down going into AA earnings tomorrow. We may see 820 tomorrow. From there, it is very hard to say with no clear signals.

I do believe we see the lower 700's before the end of April based on earnings.