sp'60min
vix'60min
Summary
Well, its an interesting situation. We've bounced a good 43pts off the Monday morning low, and for me, that was a valid place to go short.
There IS risk of upside to 1620s - as many realise, but I think the risk/reward is very reasonable.
*I am HEAVY short the main market from sp'1601, and via VIX 17.50s.
Seeking an exit in the sp'1550s, with VIX 23/25..within 3-5 trading days.
11.23am... still battling it out..just under 1600. This could easily last all day..even much of tomorrow.
What is clear though, we have a few pretty clear trends.
Bears need a VIX close >18.., 18.50s would be decisive, along with sp <1590.
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