Thursday, 24 September 2015

3pm update - weakness into the close

US equities have managed to claw to an afternoon high of sp'1937... with VIX cooling to the 22s. The micro 5/15min cycles are arguably now maxed out, and some degree of renewed downside looks probable into the close.




*I picked up two positions at 2.30pm... VIX-long... SPY-short.. from sp'1927.... and will hold overnight.

So.. lets see if the market wants to trade lower into the close.. ahead of the Yellen.

For the wave counters out there.. the price structure from 11am to 3pm is a rather classic ABC/123 retrace.. as also reflected in the VIX.

3.20pm.. Market is getting real twitchy this moment.. VIX is flipping around the 23 threshold.

The micro 5/15min cycles remains VERY HIGH.. and are due to cycle lower into the close.. and into tomorrow morning.