Closing Brief

The market broadly continued its bounce from the sp'1560 low, although there remain plenty of a signs of weakness out there. Despite the break into the 1600s, VIX is holding the 17s, and looks primed to surge back into the 20s before the weekend.


sp'60min

Summary

An interesting..but somewhat tiresome day. Seeing what appeared to be renewed QE-fuelled algo-bot melt was pretty troubling this afternoon.

Yet a bounce was expected, the only issue is where it will max out
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*I hold heavy SHORT overnight, and probably into late Friday.

In the bigger picture..nothing has changed. Primary downside target is the lower weekly bollinger, currently @ sp'1497