Tuesday 23 April 2013

3pm update - closing hour weakness

The hourly index and volatility charts are pretty clear, we should generally be cycling lower across much of Wednesday, if not all the way into the Friday close. A VIX close in the low 14s would be.. a start. Bears should be aiming for a break into the sp'1550s by early Thursday.


sp'60min



vix'60min


Summary

Its the closing hour, lets see how those twitter reading algo-bots end the day.

More than anything, I want to see VIX in the 14s, that will open up the upper 15s for early Thursday.
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*I hold heavy short overnight.
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