12pm update - messy Friday

For the equity bears - not least those holding overnight Thursday, this is proving to be a really messy end to the week. The recent 1746 low is 14pts lower down..on the flip side though, this is very likely just a dumb bounce. Metals remain weak, Gold -$22.


sp'60min

GLD, daily

Summary

So..14pts off the low..and now stuck.

Baring further upside into the afternoon - which even I find difficult to envision, this is surely just a re-short opportunity..with a tight stop in the low 1760s.

*interesting action in TSLA and TWTR, both look set to close the week on a bad note.
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VIX update from Mr T.




*VXX has seen a 1 for 4 REVERSE split...  not '4 for 1' ...although he kinda said it right..sorta. ;0

time for..tea :)
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12.23pm.. with today's gains..the weekly charts are back to outright bullish.

sp'weekly8

*to be clear, I still think 1730s are possible..next week..but the broader trend into spring 2014..looks on track - baring any daily closes <1700.

Anyway...I don't intend to short the indexes...too annoying (at least for me)..until next spring.