Cold air funnel clouds are possible today.

From the NWS:

INZ021-028>031-035>049-051>057-060>065-067>072-180000-
CARROLL-WARREN-TIPPECANOE-CLINTON-HOWARD-FOUNTAIN-MONTGOMERY-
BOONE-TIPTON-HAMILTON-MADISON-DELAWARE-RANDOLPH-VERMILLION-PARKE-
PUTNAM-HENDRICKS-MARION-HANCOCK-HENRY-VIGO-CLAY-OWEN-MORGAN-
JOHNSON-SHELBY-RUSH-SULLIVAN-GREENE-MONROE-BROWN-BARTHOLOMEW-
DECATUR-KNOX-DAVIESS-MARTIN-LAWRENCE-JACKSON-JENNINGS-
INCLUDING THE CITIES OF...LAFAYETTE...FRANKFORT...KOKOMO...
CRAWFORDSVILLE...ANDERSON...MUNCIE...INDIANAPOLIS...TERRE HAUTE...
SHELBYVILLE...BLOOMINGTON...COLUMBUS...VINCENNES...BEDFORD...
SEYMOUR
1256 PM EDT TUE MAY 17 2016

...COLD AIR FUNNELS POSSIBLE TODAY...

GENERALLY FUNNEL CLOUDS DEVELOP AND OCCUR IN CONJUNCTION WITH
CONDITIONS THAT PRODUCE SEVERE THUNDERSTORMS.

AN ENTIRELY DIFFERENT CONDITION PREVAILS ACROSS CENTRAL INDIANA
TODAY. THERE IS LITTLE POTENTIAL FOR SEVERE THUNDERSTORMS.

RESEARCH STUDIES OF FUNNEL CLOUD OCCURRENCES INDICATE THAT A
DIFFERENT TYPE OF FUNNEL CLOUD FORMS WHEN WEATHER CONDITIONS ARE
SIMILAR TO THOSE OF TODAY. THESE ARE CALLED COLD AIR FUNNELS...AND
ARE NOT AS VIOLENT AS THOSE ASSOCIATED WITH WARM AND HUMID
CONDITIONS.

COLD AIR FUNNELS ARE ASSOCIATED WITH THUNDERSTORMS THAT FORM IN
DEEP... COLD-CORE...LARGE-SCALE LOW PRESSURE SYSTEMS. THESE FUNNEL
CLOUDS ARE SMOOTH AND NARROW. THEIR PARENT THUNDERSTORMS ARE NOT
PARTICULARLY TALL OR INTENSE. THESE FUNNEL CLOUDS NORMALLY PROTRUDE
A FEW HUNDRED FEET DOWNWARD FROM THE PARENT CLOUDS...ROTATE OR SPIN
LIKE A TOP...AND LAST A FEW MINUTES BEFORE DISSIPATING.

IN RARE CASES WHEN THEIR CIRCULATIONS DO REACH THE GROUND...COLD AIR
FUNNELS CAUSE ONLY MINOR DAMAGE. MORE REPORTS OF SMALL FUNNEL CLOUDS
ARE POSSIBLE OVER CENTRAL INDIANA TODAY. WARNINGS WILL BE ISSUED IF
ANY OF THEM TOUCH THE GROUND.