It has been a choppy morning, from opening declines, minor gains..but then another down wave, and marginally breaking the Thursday low of sp'1841. Metals are cooling down, Gold swinging from +$15 to +$5. VIX is similarly cooling, from the 17.20s to the 16.60s.
*pretty powerful spike-floor candle this hour.
The irony is that we're only 33pts from last Friday's high.
I'm still inclined to see a further wave lower to at least 1834. It simply makes little sense for the market to have broken <1850..only to get stuck at 1840.
An interesting afternoon ahead!
VIX update from Mr R.
time for tea :)
12.03pm... bulls still unable to clear the hourly 10MA - now @ 1850.
12.34pm... the chop continues....won't take much to kick this down into the 1830s.