VIX Stretched Over 20% From The 10ma While SPX in Uptrend

The VIX provided some notable action Thursday. It closed up over 19% and is now stretched over 20% above its 10ma. Below is a test of other times we saw the VIX stretched this much while the SPX was trading above its 200ma.

The VIX is one of several indicators I am seeing that is suggesting a bounce is near.