sp'60min
Summary
*closing hour action: more crazy ass swings... with the Trans, R2K, and Nasdaq actually turning positive. There was renewed weakness in the closing minutes, but it was not a great close for those in bear land.
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Well, that sure was much too wild for yours truly.
The market had setup a pretty good bear flag by 2.30pm.... and after a little chop... we saw a very significant hyper-ramp, especially seen in the two leading indexes - R2K swinging from 958 to 1008, a VERY powerful 5%
sp'1812 makes little sense as a key low, but I can't be in denial about the closing daily candles, which are warning of a spike floor.
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*I went long TVIX around 2.30pm.. but bailed just after 3pm as the market went hyper bullish. If it was just a market fake out.. it was a nasty one.
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more later....on the VIX