sp'60min
vix'daily3
Summary
*reversal candle on the daily VIX, but I think it is to be dismissed.
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No doubt, those holding overnight short are getting real annoyed, but worse..there could be a few days to complete this latest bounce attempt
Underlying momentum on the daily/weekly charts will remain VERY bearish for at least another week or two - even if we get to 1810/15. It remains the case..bounces are to be shorted..or to exit existing longs.
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So...key upside re-short zone remains 1810/15. If market can somehow claw to there..it'll be a relatively easy re-short zone.
*notable weakness: UGAZ -13%..as nat gas prices drop -4% or so.. EIA gas report @ 10.30am. Is it summer yet?