Closing Brief

A pretty fierce battle across the day in market land, with the sp' taking out the critical low of 1538. Yet, near term count is still suggestive of upside in Friday opex, target remains the low 1570s, but with the strong VIX, maybe it will only back to the 15s.


sp'60min

Summary

Today was certainly a busy one, and all things considered, things are still broadly looking on track.

Yes, the critical 1538 low was taken out, and that IS a serious issue now, but that doesn't mean we can't still see a 2-3 day jump into the 1570s again.

I remain comfortably on the sidelines, seeking a major re-short, which now seems more likely on Monday, than near the Friday close.

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the usual bits and pieces across the evening