11am update - quietly watching

The smaller cycles continue to look a problem to the bears, and right now, I sense no fear in this market. All thats missing is for the algo-bots to launch a major bear stop sweep.


sp'15min

sp'60min

VIX' daily

Summary

VIX remains in a clear downtrend, only a break above 19.50/20.00 would be a confident break higher.

I am looking for a re-short, the only issue is, do I have to chase it lower, after a break <1330..or will the market decide to ramp for one last move to 1375/90 ?

There appears to be somewhat more of a threat of upside than downside right now. Call it a hunch -or 'vague guess', but I'd rather miss out on 10/15pts downside, than get whacked with a 35/45pts up move.