Wednesday, 11 September 2013

2pm update - melting higher

The market has slipped into a full on algo-bot driven melt mode. A close in the sp'1690s is now a very valid possibility today. Market volatility has collapsed, with the VIX melting lower into the 13s. If sp'1700s, then VIX 12s look likely next week.




For the big/serious bear money still short the market, I have to imagine a lot of stops are going to be hit across the coming days.

*there seems little point holding out for a renewed down wave, and I waved the white flag some two hours ago.

Regardless, I'll still be here.