The current situation is pretty clear... either this move from sp'2052 to 2077 is a mere bounce.. or a grand new multi-week up wave has begun. Considering the weekly/monthly charts - which have been warning of trouble for months... I remain inclined to the bounce view.
*standing by to re-long VIX... in the 14s.
Considering I exited at 16.20 this morning.. I'm very content with the current setup.
Meanwhile... in the city... feels like summer is indeed winding down.
updates across the hour...
1.52pm.. LONG VIX from 14.42.... with sp'2076.
Am I overly early again? Hmm....
VIX has filled the opening gap.... back amongst old (Broken) resistance in the mid 14s.
I'd like to see a daily close in the 15s.
2.03pm.. Even with VIX in the mid 14s.. daily candle is still green...
Eyes on 15 at the close.
2.22pm.. sp' seems stuck at the 50% fib retrace of 2078.
A close in the 2060s would be really good for the bears... and that'd give VIX 15s... with 97mins left of the trading day.. that is enough time to drop 7pts.
notable weakness: BAC, -2.6%.. as the threat of int' rate rises is fading