sp'60min
Summary
Market mood remains broadly weak.
Right now, we're clearly due a bounce... but anyone considering going long, should be well aware there is serious threat of the 1750/25 zone before end month.
Default trade remains to the short side across the weeks and months ahead.
Considering the recent equity drops, the VIX remains relatively lower in the 25s. We sure haven't seen any capitulation spike yet.
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Update from Oscar
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Chatter from Riley
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Overnight action
Japan: -2.7% @ 17240.... to be expected
China: late day rally, +2..0% @ 3007
Germany: currently -2.3% @ 9735.... the 10K threshold is now looking a long way up. First real support is the double top of 2000/2007, around 8K.
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Have a good Thursday
8.48am.. sp +8pts @ 1898.
It is notable that we could see a sig' gain of 1%, but that only reaches sp'1910... still 3% short of the updated basic fib bounce target of 1960.
Anyone seriously think we can trade >2K, before 1750/25 ?
notable mover, TVIX -2.4% @ $9.30.... which is right where I sold it at on Monday afternoon.