12pm update - down cycle underway

Market has maxed out at sp'1646, and we're seeing a very natural minor down cycle. Underlying pressure remains to the upside, but there is no reason why 1636/34 can't be hit this afternoon. VIX remains relatively strong, just -1.5%.


sp'15min

vix'60min

Summary

Well, market is still behaving itself...although the volume is low of course. Who wants to be trading ahead of the Fed?


*I am looking to pick up another (yes..again) index long, later today, preferably somewhere in the sp'1636/34 area.  If if doesn't get that low...I ain't chasing it.

Still short SLV..would like to drop that near the close of today.
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