2pm update - hourly pressure is upward

A rather significant bounce appears well underway, and the only issue is how high can the bulls manage before the next major wave lower. Best guess targets remain 1600/10...before a further move lower to 1510/00, where the 200 day MA lurks..along with the weekly lower 'bol'.


sp'60min

Summary

So, we're battling higher..and there are no doubt a fair few bears who will be looking to cover into the close.

Bears have had a good run from 1654 to 1550. On any basis, we're due a 2-3% bounce.
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*I remain holding a small index-long position, will seek to drop that before the close of today, even though I believe further upside is likely for at least the first half of Tuesday.
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2.21pm initial target hit

Stop placed on index long, tis a good day :)

KICKED @ sp'1582... I'm very pleased with that. 


2.32pm... VIX back to flat..set for upper 16s by late Tuesday.

Will make for one hell of a great re-short..via VIX calls.