Kudos to MMs

1072 SPX is real support, and not something you want to see go unless you want to see SPX exhale to 1042 - 1050.

 

The moment of truth. If we lose 1072 cleanly, this can turn into one of those rare ugly days of -50 handles ES.

 

"FV" ~867
"NFV" ~1058

 

Oh boy. SPX 1068. This is getting critical. Not time to bring the Russian navy song out yet though...

http://www.youtube.com/watch?v=Nwc0shJ2aYc

 

1072 SPX battle between longs and shorts:

http://www.youtube.com/watch?v=SD-Rf4PmFMw&feature=related

 

Crazy open. ES is red with SPY green.

 

"FV" ~850
"NFV" ~1038

 

Feast your eyes. VIX red (-3%) on clear SIFs fear. The option markets are telling you something.

 

There is a tiger in the market today. If the selling subsides, this is going ballistic. Of course, if the buying subsides, we go to 1050 then 1042. Eitehr way, I would advice against short over the weekend.

 

First moment of truth of day. Does SPX hold 1050?