sp'60min
Summary
*with continued equity melt, the VIX has failed to hold the 12s
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..lets see what the algo-bots make of the latest Fed press release.
As things are...it looks like we'll remain in the broad upward melt mode until at least Friday morning..when Yellen is due at the hole.
...not the best of thoughts.
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2.05pm.. tedious nano-chop... with a touch of downward pressure.
I can't see any sig' move until the Yellen is out of the way.
2.09pm.. ohh the humanity, we're 4pts below the earlier high.
Metals are notably weak, Gold -$3, but even that move is still barely above 'noise'.
2.23pm.. micro chop...hmm....there just isn't the downside power.
Two gaps below...gap'2 around 1958/56... just about viable...but that still seems more likely early next week.
2.42 A real micro mess...and we're net higher this hour....why am I even moderately surprised?
VIX breaking lower.. -3.4%....does not bode well for the bears.