sp'60min
vix'60min
Summary
A rebound is no doubt due at some point.. and with jobs data tomorrow, equity bears are at 'some' risk if holding overnight.
Regardless of that though, bears are ending the month with a pretty strong down day.
Just reflect on this... a mere week ago... we were making a new historic high of sp'1991.
54pts down.. across 5 trading days... but it doesn't justify any bearish hysteria...yet.
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Notable strength: GPRO, +4.1%.. ahead of earnings at the close.
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2.07pm... a vain attempt at a rally, but there is going to huge resistance on a back test of the low 1960s.. .whether tomorrow.. or next week.
I could understand if many will be wanting to re-short into that.
2.40pm.. chop chop... a floor of 1937 looks 'reasonable', with a natural bounce to perhaps 1960/65... but that seems unlikely to be hit until early next week.
Interesting closing hour ahead...last one of the month!