(Click on image to enlarge)

S&P 500 chart courtesy of StockCharts.Com

That's a big flashing warning in my estimation. This Tweet captures the moment.

$SPX is now positive but the $VIX is +1.40. This is typically a big flashing yellow light. Be very, very cautious today.https://t.co/maIeV4zEiu https://t.co/u7RwuFv1hV

— Randy Frederick (@RandyAFrederick) February 22, 2022

Alleged Reason for Rally  

Here is why the market has rallied violently: pic.twitter.com/9Rr0BZd7Ma

— Dougie Kass (@DougKass) February 22, 2022

This Morning 2:30 AM 

I don't know. https://t.co/Vd7jToWVXb

— Dougie Kass (@DougKass) February 22, 2022

Bears should root for the gap down to close tomorrow then collapse as soon as it does.

— Mike "Mish" Shedlock (@MishGEA) February 22, 2022

"Hells bells, green tomorrow would not surprise me much. But I do not think would hold long. For the week, red"

"Bears should root for the gap down to close tomorrow then collapse as soon as it does."

And here we are. The day is not over but this does not look pretty, no matter what the close.