1pm update - could get ugly..real ugly

Its a mess...clearly. This market is under pressure, and that pressure only seems to be increasing as the day progresses. There seems very little right now to merit going long..and yet at the same time there is a severe threat of a major late day ramp.

I'm sitting this out...too much uncertainty for me.


Sp'60min

vix'60min

Summary

Ugly morning for those who were going long at the open

There is severe risk of latter day/early Wednesday ramp..I'm not getting involved in this nonsense.
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*look to the VIX, if we break above 21.00..there IS late possibility of major sell off, even a flash lower.
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Santelli...at his finest.




UPDATE. 1.10pm

Still high risk of flooring at these levels...the 15min cycle...

Look at the MACD cycle...this is NOT a good place to stay short. There is a real risk here.
I won't put myself at risk here. I'd rather miss out on downside.