2pm update - still waiting

Mr Market is holding significant gains of around 1%. With two hours to go, bulls just need to hold things where they are. Bears could do with a close back in the 1550s, which will easily open up the 1540s early Wednesday. VIX is possible floored in the low 14s.


sp'15min

vix'60min

Summary

A somewhat frustrating day, but for those bears who haven't re-shorted yet, now might be the best time, not least with the low VIX.

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I remain heavy short from sp'1563, and will hold into Wednesday

Target remains sp'1545/40, with VIX in the low 16s.


UPDATE 2.28pm looks like we're rolling over...

A close in the 1550s would be a bonus, after the stronger than expected bounce.