US equities remain under severe downward pressure, but having collapsed from a Wed' afternoon high of 2096, this is a market that is unquestionably due a short term multi-day bounce. Clearly though, those trying to play such a bounce are currently still getting repeatedly whacked.
*VIX is looking a little tired in the 24/23s, but then... the opening black-fail candle.. was itself a fail in the 22s
It has been an incredibly wild time since Wednesday afternoon.. swinging from 2096 to 1993 in just 11 trading hours. Incredible.
Regardless of the next multi-day bounce... the fact we've already seen a serious tremor across ALL world equity markets bodes well for the doomer bears this September.
*there is a part of me that is highly tempted to attempt to pick up a short term long... but I am strongly resisting.... as it seems crazy risky. For now, I'm content to sit back.. and watch this play out into next week.
There should be plenty of opportunity for the bears to re-short this market... September should prove to be highly entertaining.. and profitable.
time for some sunshine... back at 2pm