12pm update - trying to be patient

The market jumped back higher after a mid morning decline. It still seems likely that a sub'5 is imminent. Bears might have to be patient and wait for those 1540s early tomorrow. VIX is in the low 14s, down 14% or so. Metals holding gains, whilst Oil is relatively weak.


sp'60min

sp'daily5

Summary

Suffice to say..I hold HEAVY short from sp'1563, waiting for a 2-5 hour down cycle, which now seems to complete sometime tomorrow.

Bears need to keep a lid on this nonsense, there is natural resistance in the 1570/75 area, but frankly, that'd be really annoying.

--
time for lunch

VIX update...




back soon

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A good example of what I want to see on the main indexes later today..

BKS..  opening rally...and its failed.  Looking for a red close. (not that I'm trading it)..

Daily MACD is actually now back to negative cycle.