12pm update - Buy the Chairman Dip?

Choppy action this morning, but it looks like we could have seen the end of a little B' wave lower - flooring at sp'1345. That would make for a near perfect floor, its near the base of the up channel.

All that's missing now.is.the final C wave up. That could complete by late Wednesday or early Thursday. Clearly, the bulls will want to punch above this mornings high of 1361.

So..if we're 1365/70 tomorrow/early Thursday..I'm hitting buttons.


sp'60min

VIX, daily, rainbow

Still no blue candle on the rainbow chart!


Summary

With the VIX red, its looking like 1345 was the floor for what I believe might be a standard B wave.

Bears should start preparing for a major re-short tomorrow, in the mid/upper 1360s.

The good bear..is a well prepared bear ;)