This is truly a tuff call here as UVXY is now signaling sell right as it trades at $10. Yet the SPX (more volitile than the SPY) still isn't even close to the initial leg of a short term buy signal. I will act against my signal in UVXY for now as it still has some upside wiggle room.

http://bigcharts.marketwatch.com/advchart/frames/frames.asp?show=&insttype=&symb=uvxy&x=52&y=15&time=3&startdate=1%2F4%2F1999&enddate=2%2F18%2F2017&freq=7&compidx=aaaaa%3A0&comptemptext=&comp=none&ma=0&maval=9&uf=0&lf=1024&lf2=2&lf3=8&type=2&style=320&size=4&timeFrameToggle=false&compareToToggle=false&indicatorsToggle=false&chartStyleToggle=false&state=11