10am update - looking to short the baby bounce

Well, there are probably many stupid reasons why this market is rising, I suppose the Buffett is one of them. As ever, what matters is the bigger picture, anyway, lets look at those important hourly cycles


SP'60min

VIX, 60min

 
Look for support at the 10MA of  18.70
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*I intentionally got stopped out at the open, will look to re-short later in the day. I would believe - and hold to my overall analysis that the market will move to at least 1270 within the near term.

Thus, my default trade is to short...any bounces.
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So, keep a close eye on those 60min cycles...including the VIX.

Bulls are probably getting a chance to exit 150/200pts higher than they could have hoped for last night.
Bears - not already short, are getting another chance to short at better levels.

Everyone should be happy this morning ;)

yours..ready to fire ze missiles..later today.