SPDR S&P 500 (SPY)

[GLENO34]

FOOT..What is your take on this Monthly VXN..The daily and weekly are pretty OS but looks like the Monthly has lots of room for down..Guess we could get a small correction and wouldn't change the monthly indicators?? But if we have to bottom, then the markets have quite a ways to go to the upside..
http://stockcharts.com/h-sc/ui?s=$VXN&p=M&yr=10&mn=6&dy=0&id=p03586500411