Volatility: "VIX Bounces Off 50-Day" (VXX; TVIX; XIV)

The index is up 2.72 at 35.58, The VXX ETF is up $2.45 at $45.43.
From Bespoke Investment Group:

As we noted last night, the S&P 500 was stymied by its 50-day yesterday.  At the same time, the VIX volatility index has bounced off of support at its 50-day.  Higher levels in the VIX generally coincide with a decrease in equity prices, so market bulls are hoping this is one bounce that doesn't hold.