Thursday, 23 August 2012

11am update - kinda weak

The declines are still not that significant, but they remain a nice reversal from the overnight futures of sp+5pts.

VIX is starting to creep higher, the door is starting to open for a move to 18/19, but that is still far short of what is necessary to break the previous cycle high of 21.




A minor bounce seems underway, but unlike yesterday, there is no Fed report to act as an excuse for latter day recovery/ramp.

Bears should still be seeking a close in the 1390s, with VIX in the mid 16s.