sp'15min
vix'60min
Summary
So, bounce is underway, after what looks to be a very clean '5 little waves down' forming sub'1.
A two day bounce seems more likely than just one, based on previous cycles, and the fact underlying trend does remain UP. Also, Monday is a QE day of 3bn.
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*I remain on the sidelines..awaiting a two day bounce to play out, never mind the fact its almost the weekend, and its opex.
10.13am.. baby bull flag on the 5min chart...
I'm not too confident though about it, not leas with the MACD cycle ticking lower, perhaps for another hour.
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10.34am... R2K..and other indexes kinda close to breaking new lows. VIX still red though, and well below yesterdays high.
I'm guessing this will hold.
10.38am..floor breached. Hmm.. That should rattle all the weaker bulls out!
Just noticed the transports... -0.7%, thats pretty significant.