Awesome price action with a key-reversal day, selling off on heavier volume than we had on the rise. We are now off to the races.
The next order of business is to drop 200 handles to the 2280 level on the S&P 500. The sooner we get the VIX up to 20, the sooner that the leveraged volatility shorts will be crucified.
The Fall crash gets going in later-September when the government hits the debt-ceiling wall and commences shutdown. I am very much looking forward to this waterfall -- will it stop around the earlier lows around 1800 SPX, or plummet all the way to the 2007 (year) high of 1576?
|SPX 2Y fall crash|
Good luck to all ... bears!