1pm update - afternoon scare?

The market remains moderately weak. An interesting aspect the bears should look for this afternoon is any news report/statement from the US, that could easily upset the algo-bots, and knock the market 1% lower, into the 1620/15 zone, with VIX 19s.


sp'weekly7

VIX'weekly

Summary

Ignoring the intra-day noise for this hour...everything looks fine for next week.

Target remains sp'1570/60s..although the lower weekly bol' will jump to 1570 at the Tuesday open..so..we might fall a little short of the June lows...but thats okay.


*I remain short the market, via long VIX, but will consider an exit into the close, if 18.25..or higher.


1.26pm... market spikes 6pts on Kerry opening his mouth.    sigh.

I find it bizarre that is somehow bullish, and I'm seeing more lunatic talk across the usual sites about a rally into mid/late September.
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Well, as ever..we'll see.


1.40pm.. stuck around sp'1634. Who the hell wants to go long at this level, and hold into next week?

Makes no sense, when you consider the daily AND weekly trends.