Thursday 27 December 2012

12pm update – game over bulls

Baring some bizarre late hour agreement, the indexes are going to get smashed within the next few trading days.A fast snap move down to the November sp'1343 low seems viable, with a move sub 1300, within the following 2 weeks.


Sp'weekly2, rainbow



VIX' weekly


Summary

Red candle on the weekly index chart...very good to see.
The VIX breaking over 20...VERY important.

Regardless of how we close today, the damage has been done, and I'm holding to all original targets.

Sp'1225, with VIX somewhere in the 35/45 range. Its hard to guess where VIX will max out at, but clearly, a break into the 30s would seem the 'minimum'.

Back later..probably with an update after the close.