sp'60min
vix'60min
Summary
Suffice to say... it remains VERY wild out there today. Price action is extremely dynamic... and even though we have some strong indications of a floor... that was the case yesterday.. only to fail.
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The bigger picture is without question... bearish.. to the sp'1650s, with VIX 40s.
However, I'm still concerned of a 2-3 week bounce.. and let there be no doubt, the sp'1950s are very viable on such a bounce.. which would crush the VIX back into the teens.
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Regardless... its already been one hell of a day....
11.30am.. Renewed weakness, but we're still holding the low.. with VIX still some way below the earlier high of 28s.