11am update - the battle continues

After opening declines, we've seen a mini-ramp, but its weak, I think even the most deluded of bulls out there realises a serious multi-month decline is indeed underway. VIX remains very unreliable, with the $ a touch higher.


sp'60min

vix'60min

Summary

Lets see how much the bear can claw this market lower later today.

I'm content to watch this nonsense play out, I want my next exit at least <1365. As ever..the patient bear..is the good bear.

*I'm looking to see the VIX back > hourly 10MA @ 17.25. A daily close in the 18s would be a strong bearish sign for the indexes into Wednesday.