2pm update - minor bounce still viable

The sp' is holding in the mid 1560s..and any hope of closing the day green..is gone. VIX is holding gains of 20%, but is starting to cool down a little. Metals and Oil remain battered, but the latter is especially suggestive of minor strength into the close.


sp'daily5

vix'daily3

Summary

Bears look okay for the mid-term..sp'1480/70s look a given in my view.

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* I remain on the sidelines watching USO /Oil. Uncertain if I will short into the close (again)...right now..I think I'll wait until Tuesday.


2.49pm...ohoh, here comes the bounce