Thursday, 27 September 2012

12pm update - still seeking sp'1420s

We remain in a bear flag on the indexes, downside is still pointing towards the next soft support level of 1425/20. That probably equates to a Friday VIX of around 18/19




So long as we don't spike higher, and close over 1445, I'm still pretty confident 1420s can be hit in the near term. Its still possible we could even close in the 1420s, but that now seems more likely tomorrow.

The hourly cycles on both the indexes and the VIX are around 50% reset now, its just about enough to justify a latter day rollover.

VIX doing a gap-fill at 16.75 this afternoon, before the next jump to 18/19 ?

back at 2pm