12pm update - second bounce success

Mr Market has probably managed to annoy the max amount of traders this morning. Opening weak chop, early sign of a bounce..utter failure...break of 50 dma..to sp'1837...only to whipsaw into the low 1850s. VIX remains a key sign, and is in melt mode...set for a daily close in the 14s.


sp'60min

sp'daily5

Summary

*as suggested by 'deflationland', a back test of the old broken support...to the 1870s?

For me, I could go with that, so long as 1897 is indeed a key top. The good thing, we have at least broken the 50 day MA already.
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VIX update from Mr T.



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time for tea.