1pm update - let them spike it

Those bull maniacs are laughably even more bullish now than they were last night - when some were touting sp>1363. After this mornings drop, they are still seeing 'bargain prices'.

Those 'bargains' will be somewhat cheaper by end July.


sp'15min

vix'15min

Summary

The tiny 15min cycles are very much looking like a little ramp is due imminently..

I will re-short,...probably around 2.30pm, which I've come to recognise as a somewhat 'magical' time in market land.  A re-short around sp'1320/25 would be very acceptable.

Stay tuned.