It's on the cusp P/dext but the 13 close is pivotal in the days/weeks ahead with daily vol needing to to be over 4m IMO. It's a touch early to call a definitive change of trend but it looks certainly possible. it could repeat the July/Aug/Sept 2009 cycle. Certainly looking for vol (hopefully 10m plus) and when/if it arrives, it may saunter away.
