10am update - VIX is NOT confirming this move

Considering the mood out there, the VIX should be  higher...much higher. Either the market has considerably further to fall today - with the VIX moving to +20%, or the lows for the day are already in.

The daily index cycles are of course important, and they do suggest much lower levels, yet....bears need to be careful today.


VIX, 60min

Sp'15min

Sp'60min

Sp' daily, bearish outlook, count'3

Summary

I remain short, but looking to exit this hour...and re-short after 1pm.

My basis to exit will be the 15min cycle...via MACD cycle.
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UPDATE 10.05am : exited ALL index short positions sp'1290

More across the day.