Thursday, June 13, 2013

Last chance...

I believe today or maybe just this morning, is the last shot for the bulls to delay the inevitable one or two day mini crash that could take the SPX to the 1460-1480 area. Breadth is oversold again but the VIX is breaking out.  If it can hold 17.50 for the the 1st 2-3 hours of trading, you could see a serious meltdown begin by the afternoon.  The other scenario is a breakout that can't hold above 20 for the rest of the week, resulting in a big move starting Monday or Tuesday.

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