The market is seeing the usual recovery rally into the afternoon. With further QE tomorrow..and it being opex, bears should probably sit back..and see what the bull maniacs can manage. Metals are now positive, and Oil is showing significant strength. VIX is cooling down.
sp'60min
ViX'60min
Summary
Predictable.
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*I remain on the sidelines, waiting to launch an index-short, later on Friday. With the break of 1675, the next short trade should be far less risky.
Downside target for September remains in the sp'1600/1550 range.
