11am update - hourly cycle ticking lower

A minor wave lower is underway, but first support is some considerable way lower. Bulls have phenomenal buffer zone on the downside before any damage is done the current up trend. Even the much touted retracement - as low as sp'1440s, would do nothing to the disturb the current trend.


sp'60min

trans'60min

Summary

Certainly, its nothing remotely significant enough for any bear,, and as we've seen for the past 3 weeks, late afternoon is usually 'algo-bot melt up time'.

Metals appear stuck, especially Gold, a fourth day stuck just under the 50 day MA.
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*VIX is similarly trying to build a floor, with the 16s, a good 25% higher.