SPY Ponzo and VDX Updates.....09.09.15

Here's a look at the Ponzo update for SPY as well as yesterday's VDX update on SPY after the big runup.  Things are looking a little less scary on the Ponzo range forecast although there's no clear -skew either bullish or bearish going forward.  The VDX meanwhile is showing a convergence of the VDI + and - lines which is bullish until proven otherwise (despite today's $4 swing in SPY to the downside. Bottom line >>> Sept 17 remains the 800 lb gorilla that will likely drive momentum for  at least a few days and until then we're likely to just see more posturing and intraday scalping.