I made a rough chart of the areas of resistance that I expect based upon volume of past events. My observation is that we will need a high vix and high volume (north of 18 billion in a week) to smash through 1370. It will take some volume to get through 1406 too though. However, it will take less volume to get through 1406 then it will take to get through 1370. The interesting part is that we are in the summer months with volume tapering back. The vix chart appears to me to be in a bear market. We need a volatility event to create volume that will take us down past the 1370 level. In creating this chart, I took the highest weekly volume areas to the lowest areas and placed a line at the price point. I only did the top 7 volume events within a 3 year period. Thoughts?