11am update - setting up an afternoon jump

The market appears to be coiling up for a rebound to the upside. With a hit of the 50 day MA, the sp' looks set for higher levels into Monday, target is a somewhat obvious gap zone of 1680/85. VIX continues to cool down.. -6% in the 13.70s.


sp'60min

Summary

Well, the bears  had an extra opportunity to close out this morning. 

There can be no excuses for whining and bitching if the sp' is in 1680/90s on Monday.
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Regardless, at least yesterdays move gave clarity to the mid-term.


At a minimum, the current downside target is 1560

sp'weekly3

You can see why I'm looking for that kind of move.