Extreme Bearish Sentiment, Odds of a Bounce are increasing

Sentiment has reached extremes on bearishness off late so I wont be surprised to see a bounce in the broader market soon. Two indicators of market fear seem to be stalling:

First  the US Vix is stalling near the 27 mark in an oversold market:
Second  the Yen is encountering resistance near the 117 mark:


Expecting a count trend oversold bounce to the 1900-1920 zone on the S and P 500 and the 7450-7500 area on the Nifty. Expecting gold to out perform and reach the 1150 mark.