I'm still guessing we fall lower, but right now, 1305/1300 is clearly not viable today, so, that'd mean we should be looking for a brief Monday low instead.
sp'60min
vix'60min
Summary
Since the mini ramp, things are a little confusing this afternoon. As noted earlier, I'm not willing to chase this higher, and I certainly won't go short until the latter part of next week in the 1350/60s.
So.. I remain just watching.
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A few notable stocks to note, coal miners: PCX -12%, ANR -4% - a historic all time low for the latter. Considering the market rally since sp'1267, can you imagine where they will be at sp'1100 ?
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