sp'60min
vix'60min
Summary
Well, yesterday was rather dull and quiet...today will not be!
It looks like the market has gradually slipped lower across the night, and we're already very close to the key retracement target zone of 1625/22.
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Best guess, we level out by the 'traditional' lower time of 10.30/11am..and then see some level of latter day recovery. Bulls could tolerate a close of -7 to -10pts. However, anything more than 23pts..and its VERY major problem.
Strap in!
*I will consider going long at the gap-fill zone of 1625/22 this morning, but it is certainly not without risk.
9.35am ...well, we're near the target zone.
I'm in no hurry to hit buttons yet, but I'm guessing we floor within the next 90mins
VIX up almost 10%...thats interesting!
Best guess remains..we floor no later than 11am.
*gap on the transports is at @6200, thats another 0.5% lower.
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EYes on the VIX