sp'60min
vix'weekly
Summary
*another major fail to break..AND hold the VIX weekly 200 MA
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The recent 1737 low is now looking a long way down, and the bigger bearish outlook...is trashed.
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No doubt the big money shorts are all bailing here (if they didn't already yesterday)..and there is simply no reason why the bull maniacs won't carry it higher into the weekend..and beyond.
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Clown finance TV is now in over drive, and hyping up the Whitehouse PR guy who is trying to convince everyone (not least himself) that job growth is headed 'in the right direction'.
Yet..sure it is. Tell that to the tens of millions of long term jobless in North America and the EU.
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10.04am VIX back in the mid 15s, almost right back to where we were before sp' broke the key 1815 floor.
10.25am Weekly charts are still technically bearish, but having risen from sp'1737 to 1788, who on the short side hasn't already bailed?
It remains a bit of a mess, but having 'survived' the monthly jobs data, the market is 2% high from the Wednesday low.
VIX says 'its over bears'