Friday, 12 October 2012

2pm update - bears clawing lower

The week is ending potentially very badly for the bulls. We are very close to breaking - if not already, key rising weekly support on a number of the indexes. The bears need a weekly close on the sp <1425. That is a mere 2pts away, and seems very viable.

VIX is very slowly starting to claw higher, but so far..nothing dramatic.



VIX, daily


So its going okay still, a close <1420 would be a bonus.

Earlier this week I was hoping to exit today, but considering the current trend, and a few other things, I will hold short across the weekend.

Seeking an exit around 1410/00 next Monday, with VIX 18/19.

back at 3pm