sp'60min
vix'60min
Summary
Well, we're going to break rising trend support from the 1598 and 1608 lows.
The bulls look in real trouble, and the door has now opened to the lower weekly bollinger - currently in the sp'1480s.
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Chasing the open..on the short side doesn't seem like the best of ideas.
With break of support, default trade is to launch a major re-short, on the next 15min cycle bounce.
*lots of econ-data between now and 10am, and it should be kept in mind, today is a $3bn QE-pomo day.
9.32am... VIX +10%, finally...the VIX is showing some market concern.
9.35am.. I will NO longer consider going long.
Primary support is BROKEN. 50 day MA ...broken.
PRIMARY DOWNSIDE target is the lower weekly bollinger..currently 1488.
Within the next 2-4 weeks...but possibly 'days'
*looking to launch an all out SHORT of the market..later today..on the next micro-bounce.
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