1pm update - VIX into the 14s today?

Whilst the main indexes are battling it out to hold moderate gains, the VIX is continuing to tick higher on the daily chart. Those bears seeking a reversal day on the indexes, should similarly be seeking a daily VIX close in the low 14s. That would open up the 15/16s by the Friday close.


VIX'60min

VIX'daily3

Summary

I will say, it sure won't be easy for those in bear land, but if sp' can close at least in the low 1670s, that opens up the 1660s tomorrow...with a moderate hope of lower still after the long weekend.

The turbulence in the metals..and Oil this morning are testament to a market that is getting...twitchy. We should (in theory) see the VIX start to increase.

Hourly index charts look primed for a rollover into the close. So..the setup IS there, now its just a case of whether Mr Market wants to play along.

*I remain short the indexes, via IWM.


UPDATe 1.21pm....indexes sliding sp'1673...VIX climbing.

Its starting to look reasonably good into the close. With 2.5hrs left, bears need to seize the window of opportunity, and close in the 1660s.