3pm update - selling into the close?

Its getting a bit choppy this afternoon, Mr Market wants to close in the 1500s, but the bears know they have the short term momentum. The VIX is holding pretty significant gains of 8%. Perhaps, more importantly, the USD is 0.39 @ 81.46. Any close >81.50 would be VERY significant.


sp'60min

vix'60min

Summary

So..an hour to go, and we're battling it out around sp'1500.

It does look like we'll hit 1490 tomorrow. The only issue is whether we'll get some kind of little bonus wave lower to the 1480/75 area..before the weekend.

That'd give the bulls a nice little scare, before their saviour appears next Tuesday.
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*metals losing some of their earlier gains, especially silver which might close red. Best left alone until next week.
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UPDATE 3.20pm

Just picked up some index puts @ sp'1504. This sort of bounce is to be shorted. Target remains 1490 tomorrow, with VIX 17s.

back after the close