We're off and running, and the opening gains look entirely unsustainable. The VIX is holding together, and by late afternoon, could easily be 5-7% higher in the low 18s.
Keep your eyes on the tranny, need it to stay <5120...and slide lower for rest of today, breaking sub 5k, no later than tomorrow afternoon.
We have a long day ahead, bears need a close in the sp'1390s, anything in the 1380s would a real bonus.
oh yes..the weakness IS out there
*coming up...charts on FCX, MMR..both pretty crazy.
UPDATE 10.05am Tranny is holding within the H/S...seeking major down move.
If this pans out as expected, I will be..somewhat pleased ;)