11am update - flat top, daily cycle?

With a few pieces of econ-data coming in slightly better than expected, the marginal declines are erased back to evens. VIX remains a touch higher, but that could easily flip red later today.


sp,daily5

Summary

Nothing much to add right now. Looks like market will flatline for rest of the day.

However, its possible we are developing a multi-day flat on the daily cycle, and as many say 'flat tops..equal market drops'. The stop levels for those taking on new positions are clear... 1392 short-stop....1380..long-side.