Wednesday, 12 August 2015

3pm update - bears washed out

US equities have somewhat bizarrely pushed back to almost break even, with the sp' ramping from 2052 to 2081, with VIX having cooled from 16.28 to 13.99. No doubt the bull maniacs will be calling for a key floor, with new highs 'due'.




So..  a crazy ramp..  and I thought the 2070s were asomewhat bold call this morning.

Regardless, nothing in the bigger picture has changed. A day where the market broke a lower low, and with further technical damage on the bigger weekly cycles.

*I will hold long-VIX overnight, and have little concern.

3.29pm..  sp'2087... with VIX 13s....   'normal service resume' you could say.

Crazy.   So.. what the hell is driving this up.. other than a hyper-short stop cascade?