12pm Update - little wave'3 underway

Okay..so.. a bit of a messy open...a gap lower..then quick bounce...then fast failure at the 10MA (15min cycle)..and now we're pretty much just slipping lower.

I am short, and intending to hold short until sp'1340..sometime next week.
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Sp'60min

IWM'60min

VIX'60min

Bears will want to see VIX break 21. It doesn't have to be this week, but certainly, sometime early next week...and then a charge to 24. If we see VIX over 27 at ANY point, we'll be in danger of flashing down much lower in the indexes, after 1340 the next key levels would be 1300, then 1270/50.

First things first though...1340.

Good wishes to all the brave bears out there!