sp'60min
sp'daily5
Summary
*Daily lower channel is offering 1655, but really, its been a long while since we saw that degree of one day decline.
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So...Fridays closing gains are going to be negated from the start, and we're set to have an early morning test of 1670 by 11am.
It will indeed be very important for the equity bears to break into the 1660s this morning. If that can be achieved, there is potential for a lot more.
Market is obviously somewhat edgy by the latest Boehner/Obama comments on the debt ceiling.
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RE: VIX, The VIX high last week was 18.71. A daily close in the 19s today would certainly make things rather interesting.
*I remain short the indexes, but will look for an exit later today, and then re-assess.
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Naturally, Mr Permabull is touting 'Do not fall in love with the downside'....
Hmm, although I agree with his outlook on Gold.
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9.41am.. looks like we'll floor around sp'1667/65 within a few hours.
VIX has broken last Monday's spike high, so..thats kinda interesting.
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*I'm still short the indexes, but I will indeed look to bail somewhere in the mid 1660s.