The last few days have seen rather impressive closing hour falls for the bears. Today we've already seen a bounce from sp'1646 to 1662. Arguably, the bulls have had their bounce...and some selling into the close would seem more likely than not.
*VIX is cooling down, but it should at least hold the 19/18s..before the next big jump higher -which would be a target of 23 - the Dec' spike high.
All things considered...this is a very weak market..and the bounces are to be shorted.
*metals and Oil both remain weak..despite the mainstream realisation that QE taper is off the agenda until next year.
3.08pm.. sp'1662/61...and looking kinda stuck. Equity bears should be content with any close back in the 1650s.
King O' due to formally announce Yellen as nominee for the new money printer CEO job.
3.31pm... Well, Yellen will get the blame (at least partly) for the next collapse wave..so...good luck to her with that, lol
Market looking a touch weak..best bear hope would be a close under the 10MA of 1657.
Good work if you can get it!
3.46pm..the rats are selling into the close again. Who the hell would be going long anyway, not least with the Dow screaming all sorts of trouble.
Seeking a close <1657
3.50pm..look at those stinky rats sell. No reason to be long until an agreement is reached..and that sure won't be this week.