VIX'60min
sp'60min
Summary
VIX looks exhausted in terms of upside... with equities attempting to put in another spike floor.
Problem for the bulls... there is now possibility of a bearish H/S formation.. if we get stuck around 2000/2010. More on that later though.
Notable weakness: drillers, RIG -2.9%, SDRL -1.7%... a sector that remains truly battered, with NO sign of levelling out. The weak commodity prices are not helping.
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*I am having a lot of serious website/blog issues' in the past day or so....my late evening post today... might be rather different. Stay tuned.
11.12am... snap to the upside.. and bears are getting heavily short-stopped.
A key turn looks to be in.
So... now... will we get stuck around 2000/2010... or break new highs?
Considering the broader trend and style of price action, I'm guessing...the latter.
11.16am.. A daily close around 1995/2000 looks probable...which would break the down trend...
On any basis though..no one should be still short... time to exit is expired.
11.32am... no mercy for the bears... sp'1992.... and this is getting somewhat of a wild push back upward