10am update - VIX opening reversal

US indexes open higher, with the sp' once again breaking into the 1870s. The VIX gaps lower by a rather strong -6%, but is offering an opening reversal. Equity bulls need to keep on pushing here, or they are highly vulnerable to a third consecutive daily reversal.


VIX'60min

Summary

Equity bears need two things...whether today..or tomorrow....

A daily close in the 1840s...or lower...
A daily VIX close in the 16s..or higher.

Right now, those seem bold targets, but, again the question remains..who wants to go long in the 1870/80s?
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*my concern remains that there is sig' QE-pomo both tomorrow..and Thursday. If we are in the 1870/80s early tomorrow, there will be extreme risk of new highs..and then of course, we would close the month in the sp'1900s..much to the delight of the cheerleaders on clown finance TV.