sp'60min
vix'60min
Summary
So... opening gains, but just getting back above sp'1900 is going to be difficult, and will likely take 2-3 days.
As many recognise, with opex this Friday, Mr Market would probably like to destroy as many of those index puts as possible.
Best guess... a 2-3 week bounce is due... 1950/60... very viable, which would likely equate to VIX 16/14 zone. From there...the big short-side money is made in November.
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Notable weakness: DRYS -2% in the $1.40s.. Mr Market sure doesn't like the cancellation of the debt auction.
10.01am... gains fading very quickly... however the R2K is holding gains of 0.7%... bodes for another renewed push higher in the broader market as the day continues.
10.07am.. Market trying to build a floor around 1880.
*Armstrong posted a LOT of good articles in the past day... go read >>>>>>>>>>>>