11am update - morning bounce

Equity bears only managed to push the market to sp'1854, before a somewhat natural (QE fuelled) bounce to the upper 1860s. Metals are back to flat, whilst the USD is holding gains of 0.3%. VIX is lower, but a daily close in the 15s looks more likely than the 14s.


sp'15min

VIX'60min

Summary

*having dropped a SPY put block at 1855... I've picked them back up at 1866. Will hold into Friday, still seeking the low 1840s as an initial target.
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Call it whatever you want, but a bounce was kinda likely this morning. I had hoped we'd see the 1840s, but no...that will have to wait until tomorrow/Monday.

Regardless, nothing has changed, barring a break >1875, I'll hold to original outlook.


11.17am... Just thinking, a daily close, VIX 17s..is just about viable...but more likely tomorrow.

VIX 17 should at least equate to sp'1845/40.