US equities appear to have seen a morning floor (naturally around 11am) of sp'1908 (with VIX 15.30). A bounce into the 2pm hour appears underway.. with viable upside to 1920/25. with VIX 23.50/23.00. Daily cycles are offering sub' 1900s, with VIX 30 by the Friday close.
*I exited VIX-long and AAPL-short in the 11am hour.... I'm now fully on the sidelines.
Note the turn at 11am... it does often happen!
Lets see if the market can claw back upward into the 2pm hour.
Yellen remains a threat to anyone holding short overnight.. but broadly... I would have little concern for a re-short from the sp'1920s.. with VIX 23s.
VIX update from Mr T.
time for tea