Thursday 11 October 2012

2pm update - bulls failing to hold together

Urgh. today is not a pleasent one to be part of. Bulls failing badly this past hour, indexes poised to go red again. What a damn mess.

VIX is still red though.


sp'60min



vix'60min


Summary

With two hours to go, what now? The turn around is pretty good so far for the bears, but even a flat close is a major threat to what was a reasonable 3 day down trend.

Bears should be seeking at least a moderately red close....preferably <1430. Right now, that still feels like a very long way down.

I'm still short, but this sure ain't a good day so far.