This is looking like capitulation, for now [Sep & Oct have sharp teeth]. They will have the usual suspects back on CNBC soon talking about SP some ridiculous number, backed by the FED.
This is a trading thread. However, I will make one investing comment. The only consideration investors reading this thread should be, where will the growth come from in the next six months so that SPX can see 2000 again? My answer, NOWHERE. Therefore, stay and raise cash for at least one more leg down, probably to SPX 1500.
VIX historical. When VIX is > 30, moves back and forth are for the pros only (with algos) Trying to trade a market with VIX > 30 "by hand" requires nerves of steel.
Russia plots FX move as ruble nears 2015 low "The Russian ruble slumped to near 2015-lows on Monday, extending a drop that Moscow has said it will try to combat through foreign currency sales. Russian Prime Minister Dmitry Medvedev said on Saturday that the government and the central bank were preparing measures to boost foreign currency sales in an effort to prop up the weakening ruble, according to Reuters..." http://www.cnbc.com/2015/08/24/russia-plots-fx-move-as-ruble-nears-2015-low.html
My theory is that lots of Chinese and Europeans and other emergent markets are in the US markets, and they needed to raise cash after the devastation their own markets took. God forbid this should ever happen in the bond market. THEN we would see the end of the world. All these dip buyers are on psychedelic drugs when they see the worlds second and third largest economies imploding, currency devaluations all over the place in desperate attempts to prop up their economies, and the dip-buyers are still sipping cool-aid talking about SPX 2500 and DOW 20000.