2pm update - this market is WEAK

The fourth day in a row where the market opens higher..only to again slip back into the red. Of course today is a real mixture of things, not least, since it is the end of the month. The VIX is continuing to show upside, a close in the 19s would be super bearish for the Thursday open.


sp'daily5

VIX'daily

Summary

The bull flag on the VIX that I highlighted last week looks as though it is being provisionally confirmed. Only with a daily close >20/21 though, would I really be clear that the formation was correct.

The indexes look as though they will all close at least slightly red. With two hours to go of the trading day...and indeed month..lets see if some of the rats want to sell before its too late.

back at 3pm.