So far the market is doing pretty well!

Perhaps the panic was so high and expected that the S&P hasn't broken 1200, USDJPY actually rallied above 105 levels to 106 levels. VIX is indeed at 27. Does this mean there are already a lot of short positions in the market... quite possible. Let's see what happens in this week. If S&P doesn't break 1200 this week, I will have to reassess my 6-9 month gloomy view of the market