11am update - eyes on the VIX

Whilst the sp' has already broken back into the 2070s, the real notable action is arguably in the VIX, which opened above key resistance of the mid 14s.. and is now +13%  in the 15.50s. With the break above resistance, the equity bulls are in trouble, with threat of VIX 17/18s by the weekly close.


VIX'daily3

sp'daily5

Summary

*the equity bears still face the FOMC mins' at 2pm.. which does threaten a bounce... however, the 2120s now look out of range.
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Well, its starting to get real interesting.... the recent low of sp'2052 is now within range for tomorrow or Friday.

VIX is above resistance.. and battling for the upper teens.

Frankly.. its looking rather good for the bears... but as ever.. 11am is often an intraday low.. so.. for the day traders out there... some caution would be useful.

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11.22am.... a clear break of the 200dma....  to sp'2074... now its case of whether we close <2077.

VIX in the 15.60s...a break into the 16s would be useful.....  17s look a stretch today...... far more likely tomorrow or Friday.