A real mess of a trading day, the hourly indexes are getting pretty toppy, and there is certainly the potential for a closing hour sell off. The VIX is holding up relatively okay in the mid 16s, a close back in the 17s would be greatly re-support the bear outlook.
So, lets see what this twisted and messed up market has for the closing hour.
Will the deluded bull maniacs keep on buying, or will we see the rats abandon ship again, on renewed weakness? We'll soon know.
I will hold short into tomorrow, and remain seeking sp'1385.
UPDATE 3.23pm Hmm, its not looking good. The late morning ramp gains..just not fading away.
I suppose the current gains could instead all be wiped out tomorrow, but..today sucked. Tomorrow..can only be better.
Bears should be desperate for a close at least <1412. Considering the earlier ramp, surely there can't be many bears to 'cover at the close'?
UPDATE 3.40pm.. hmm, a double top?
back after the close, on what has been a really annoying day.