11am update - market trying to battle higher

The main indexes appear to have floored, at least in the immediate term. VIX has already strongly pulled back from its earlier leap into the 15s. The QE money is probably helping, and we're due a natural bounce..best guess...sp'1655/60, by 2-3pm.


sp'15min

VIX'60min

Summary

Suffice to say, bounce looks underway, and we could cruise higher for a good 3-4 hours.

Its possible we'll rally ALL the way into the close, but I'd still be bearish for Friday.
--
time for an early dinner


UPDATE 11.34am...everything on schedule...so far.

A re-short sometime after 2pm....I'll be going for IWM...but I might also pick up a VIX call block.