Cobra's Market View

My VIX intraday 1 minute chart looks weird. Numerous sudden drops of 40-50 basis points then back to trading level. Any ideas? Makes me feel like a big algo may show up soon.

Agree. Thank you Cobra. great site.

Off Topic, but ever since I registered for this sight, I keep getting this "MyWebFace" pop-up. Driving me nuts. Anybody else? Any solutions?

I think Mr. Market is working very hard to confuse everybody the last two days. I am not day trader (usually). So, I am neutral at the moment waiting for more clarity. I think the 3/2 low and the 3/3 high, whichever breaks first, may be quite important. The bear case could be some kind of Elliot Wav...

Loose observation: After USO oil etf broke resistance to upside a little after 11am est, SPY direction changes have been inverse USO with few minutes lag. Oil seems to be calling the shots and may overide normal SPY trading patterns.

Possible inverse head and shoulders forming in SPY from 2:50PM yesterday to now? I am not keen on head and shoulders but worth mentioning.

ARMs Index greater than 2 often signals rally of some sort on the way.

VIX lower high today vs. yesterday like RSI supports prospects for bounce.