12pm update - everything is all fine again?

US equities are holding moderate gains, but there remains increasing threat of a return to the sp'1930s this afternoon, along with VIX 23s. The rest of the day will offer a major hint of what is ahead next week... whether renewed weakness.. or a straight run to the 200dma in the 2060s.


sp'60min

sp'daily5

Summary

The ultimate issue now is whether 1908 is a key low... that will last into mid Oct'.... or if its just a brief tease to the bulls.

Other than sheer technical reasons, today's rally is pure nonsense... I sure won't take any long positions right now.
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VIX update from Mr T.




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back at 1pm