Fed chair continues to babble on, with the US equity market holding minor gains. The market remains due a down cycle, having climbed from the double floor of sp'2044 to 2114, with VIX cooling from 20.05 to 12.81. A moderate wave lower to sp'2080 with VIX 15/16s, still looks probable.
Pretty quiet morning overall
There is clearly the threat of another minor lunge higher to the gap zone of 2117/19... but regardless of that.. I'm still reasonably confident a retrace is due.
*holding short the market, via VIX-long.
VIX update from Mr T.
time for lunch