Tuesday, 4 September 2012

10am update - lousy open

This is a lousy open for the bears. Considering the weekend news, we should be significantly lower, but no, we're roughly flat.

ISM and construction data due at 10am



VIX, daily


This is just no good for the bears. There is the very real threat of new meltup highs of sp'1450 this month, unless we get some sell side volume. Right now..there is nothing.

Even worse, we have a black candle on the VIX hourly and daily charts - at the top of the channel no less.