sp'weekly8
Summary
*such an exciting afternoon, I did fall asleep earlier, hence I missed an hourly post...ohh the humanity, refunds for everyone?
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Seriously though, in many ways, a very conclusive and nasty way to end the week, at least for those on the bearish side.
There is literally nothing for the bears to tout, with the market showing a rather significant rebound from sp'1868 to 1899..and perhaps 1900s by the close.
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updates into the close...if I can stay awake ;)
In particular...eyes on the VIX..maybe they might be able to whack it lower into the 10s...if sp'1900s.
3.11pm.. VIX 11.44.... sp'1900.....hmm equity bears burnt to a crisp.
I'd still not be surprised if the VIX is snapped into the 10s in the closing few minutes.
3.23pm.. Notable weakness, coal miners, BTU -1.4%... I'd refer anyone to last evenings post on BTU on my 'fair value' page.
Despite the strong market, the coal sector continues to get the smack down...and a few of the remaining names won't likely survive.
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VIX 11.40...... the March low was 11.05....that is the target..
3.45pm...not much to add. It remains highly notable that the R2K/Nasdaq are both outside of their declining trend....and are headed up...probably for at least another 2-3 weeks.
It sure does not look good for those in bear land until at least mid June.
back at the close.