2pm update - a lower low

There is increasing weakness into the weekend, with the Wed' morning low of sp'1982 being broken. VIX has climbed into the low 14s. Downside target of the low sp'1970s - with VIX 15s, look on track.


sp'60min

vix'60min

Summary

...back from the park...

Hyper bullish sunsets

...and rather nice it was.
-

I remain content to wait for sp'1974/00 zone... which seems more likely early Monday.. than today.

In fact I'd prefer it that way, I don't particularly wish to go long into the weekend..due to the usual options decay issue.


2.33pm minor chop... but sp'1983... with VIX on the edge of the 14s.... bears look in 'soft' control...into early next week.

Carnage in the drillers, SDRL -5.9%... getting absolutely destroyed. 


2.44pm.. here come the 1970s.... with VIX 14.20s....