Tuesday, 27 August 2013

12pm update - VIX still not super strong

Despite the main indexes significantly lower (esp' the trans/r2K), the VIX is currently only 8% higher in the low 16s. This remains a market not particularly concerned about a western attack on Syria. Gold +$15..Oil +2.5%..the latter of which actually seems a relatively small move.




*there remains a lot going on...

Smaller 5/15/60mins cycles are weak, but there is threat of upside into the 1650s this afternoon.

Bears really need a daily close in the VIX 17s.. with sp <1639 again.

If that is achieved, there is imminent threat of a flash lower to the 1570/60s..at any point in the remainder of the week.

VIX update from Mr T.

time for lunch!

Big threat of a ramp this hour...just need to see sp >1642... that will open up 1650...which would be a green Dow.. urghh.

12.13pm...another test of the 1638 low...Mr Market still looks primed to ramp..its not like we're not seen this type of action a thousand times before.

VIX should be the tell, if it can't break the opening high of 16.56... bears have problems.

12.25pm.. bulls trying to form a floor around the old broken low of 1639.

This is one frustrating market. For those playing the smaller cycles...now is time to go long, right?

For the bigger daily/weekly cycles..just sit back and ignore the noise. sp'1570/60s should be hit soon enough.

Naturally, yours truly remains paralysed on the sidelines. urghh.