10am update - messy open

We're now 1% lower or so than the overnight peak. Not exactly a super bullish open anymore. Even the cheer leading maniacs on clown channel appear to realise that the latest bailout plan (and it remains a plan still), is not going to lead to underlying economic growth in Spain.


IWM'60min

Sp'60min

Summary

IWM putting in a classic warning black doom candle - with the VIX hollow-red reversal candle (15min cycle).

I sure won't be shorting from this level though, given a few hours of shakeout, this market might easily still close up 1% or so, with follow through tomorrow.
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Better to do nothing.