sp'weekly8
Summary
*sorry for the offline earlier, but hey..its not my server...
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So..a red candle..and we're sub sp'1800...headed for 1780/60.
See 2pm post (if you've not already seen it)....on the bigger issue.
updates into the close...server permitting ;)
3.02pm....VIX breaking higher....relentless
Surely the 20s not viable on an equity snap into the 1780s..by the close?
3.14pm...we're a mere 30pts from the FOMC taper-low, and now 53pts from the recent high.
Certainly..trend is with the bears...downside to 1780/60..with VIX 19/20.
3.27pm.. Trans -4%...biggest drop since summer 2011 (I think)..next support is 7000, around 3/4% lower.. equating to sp'1770/60.
3.31pm.. VIX +30% @ 18.00.... so..err...I guess taper'2 is off the table next Wednesday.
3.48pm... according to Cashin on CNBC, sell side 1.4bn to process....
could be looking at dow -325/350
3.51pm...despite the big selling...VIX is not going hyper...yet.
It's been one hell of a week....back at the close..to wrap things up.