Whilst equity indexes are holding moderate gains, sp +9pts @ 2089, the VIX is trading flat in the low 15s. There remains high probability of another wave lower... and the excuse for tomorrow could be 'good news is bad news'. Metals remain weak, Gold -$8. Oil continues to slide, -2.6%.
We might well have a turn underway... with VIX set to turn positive, and equities cooling into the close.
*I am looking to the next trade... China-short is a valid short term trade...
For now... I'm content to watch.. but there is viable downside to the 47s. To be considered this hour.
As ever.. typical turn time is 2.30pm... so I'll be especially watching the smaller 5/15min cycles.