Tuesday 20 August 2013

1pm update - bulls need a close in the 1650s

The main indexes are holding moderate gains, with the sp' so far peaking at 1658. Bears look tired, and the 1680s look very viable for Wed/Thursday. VIX is cooling down, -4% in the mid 14s. The sp'1680s probably will equate to VIX in the mid 13s.


sp'60min


Summary

Not much to add right now.

Arguably, the downside momentum has been halted..at least for a day or two..and the big gap zone of 1680/85 - as everyone surely knows about...is waiting to be filled.
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VIX update from Mr T



stay tuned