3pm update - bounce underway

US equities appear to have finally put in an intraday floor of sp'1880 - with VIX 28.15.. and we're now battling upward. There will no doubt be a lot of bears to short-stop out into tomorrow morning... best case bounce upside looks to be around 1910. The sp'1820s look a given this Wed-Friday.


sp'15min

sp'daily5

Summary

Well, I'm starting to get tired.... on what has been a pretty fiercely bearish day to start the week.

Yours truly was clearly overly rattled by the Sunday night futures action... and lack of a straight gap under sp'1900.

Anyway.. the technical break has been done.

I will strongly consider launching a major re-short tomorrow morning.. somewhere in the 1900/1910 zone.

Target will be 1820.. and I will endeavour to hold until that is hit.
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3.05pm.. chop chop... but the 1880 low is holding.

So.. what excuse to get the market to open higher tomorrow?


3.12pm.. so much for the 1880 low.... VIX spiking back... 28.03.

Oh well, I suppose it could be worse.... I could be long.