Yet, as I type, market appears to be rallying on some nonsense EU rumour of 'bond rate caps'
sp'60min
sp'daily5
Summary
Those bears seeking a hit of 1380 by Friday morning, should looking for a close today of dow -75/125 with VIX' 17.5. Considering the lack of action lately, that is something of a bold target.
So, lets see if we can break the recent low of 1398, and get a close in the 1390s.
The news that Draghi won't be @ the hole this weekend, it certainly removes on major concern I had about anyone wanting to be short across the long 3 day weekend. As it is, I'd still prefer to close out any short positions around 1380...before the Bernanke speaks.
--
*next update 12pm