The market jumped from 1628 to 1636 on the comments of Kerry. The bull maniacs are now arrogantly touting a ramp into mid/late September. This seems unbelievably naive, and with still two hours left of the trading month, there is significant opportunity for weakness into the close.
sp'daily5
vix'daily3
Summary
I remain trying to ignore the smaller cycles, and will focus on the bigger trends.
I have to note, I find it utterly bizarre than ANYONE, no matter how hyper-bullish they might be about the mid/long term, would consider going long this afternoon.
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I remain short the main market, - via LONG VIX, and would consider an exit in late afternoon, if sp'1622/20..or lower.
2.13pm.. bears just need 1626s..and that opens up a rather exciting close...possibly down to 1615.
As I'll keep asking...
Who wants to go long into the long (war?) weekend ?