12pm update - minor bounce

The market is seeing a minor bounce after the initial drop from 1775 to 1755. The high should hold, with renewed weakness in the first week of November. Best guess remains, sub'1700s are still off the agenda for remainder of this year. The VIX strongly supports that view.


sp'60min

vix'60min

Summary

*VIX confirming a market that is supremely confident. Even VIX 15/16 will be difficult, with sp'1730s.
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12.39pm, Minor bounce continues, but 1775 should comfortably hold.
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time for lunch !