12pm update - intra-day bounce underway

Market is significantly lower that most of the doomer bears could have hoped for. Even the VIX - which has lagged earlier this morning, saw a 10% gain, moving into the 19s.


sp'15min

sp'daily5

Summary

There is a massive problem for the market now.

We've taken out the 1397 low, and that opens the door to 1345.

*I exited spy puts @ sp'1391 earlier, I am seeking a latter day re-short around 1400/10.

We have the Greek austerity vote later, and I wish to be re-short ahead of that.

The weekly cycle target of 1345 looks very viable within days.

time for lunch back at 2pm..or earlier..if 'any drama'.