Friday, 30 August 2013

11am update - market on the slide

The market is weak, and there is little reason why anyone would want to be going long ahead of the holiday (war?) weekend. Bears need to take out the recent sp'1627 low...that should open up 1620/15 by the Friday close.




Certainly, bulls are absent..and it really could just be a case of general weakness into the weekend.

Best bear case is 1615/10..with VIX 19s..on a spike into the close.

*If that is the case..I'll close out my current VIX long position.