sp'60min
vix'60min
Summary
*I've meddled with the micro-count. Is it really a 5 wave up? Its just a vague guess, and it all gets thrown out if we break >1597.
I am merely sitting back, and wondering just what sort of index action we shall see tomorrow.
Even if GDP data comes in bad (although thats a very subjective issue), will the market just rally into the sp'1600s, on the notion that 'QE' will continue, and thus is good for all asset prices?
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*as it is, I'm holding short, am obviously getting scorched, but will hold into Friday. Reckless, or just 'overly tolerant'....you decide.
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12.20pm. What is absolutely clear, until we're back <1570, bears should have little confidence in the immediate term.
For those who say 1560..or even 1550s are impossible by the Friday close, I would refer them to April 15'th...a mere ten days ago.