3pm update - VIX spike, market teasing the bears

With the VIX spiking 14% into the 18.30s, with sp'1690s, the equity bears are likely just being teased. Baring zombie hoards roaming the western world this weekend, there will be no default, and the political maniacs (all working on the same team)..will come forward with an agreement.


vix'60min

sp'60min

Summary

In the scheme of things, the index moves are still only moderate..we're still not even talking about 1% declines, and the VIX is looking tired on the micro 5/15min cycles.
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As I sometimes say..... don't get lost in the hysteria.
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Oil is especially weak...on the edge.

A daily close under support would be significant.