With the SPX bollinger band compression of ~30 pts, rising VIX, and declining breadth - will it soon break hard down as in Jan or strongly up as in May?
Suffice to say that I have weekly SPX put spreads currently ITM but added an OTM call spread as a small hedge at the EOD given the index weakness. Yes, strong concern due to whatever occurs as a result of fedspeak tomorrow. 7/29/14