Tuesday, 21 August 2012

3pm update - bears seeking a close under 1409

The closing hour, and for the first time in 13 trading days, we might actually get a proper red close.

Bears should be seeking a close under the 10MA of 1409. That's not going to be easy to attain today.


VIX, daily


With the FOMC minutes to be issued tomorrow, Mr Market does have something to churn over for the rest of this week. QE3 is not coming pre-election, that much seems assured right now.

VIX is battling higher, but we're so low, even a 10% move won't even get us to VIX'16

So, lets see if we can actually close red...it'd be a real bonus to close 1408 or lower.
More after the close.