Whilst the smaller cycles remain choppy..a quick look at the bigger daily cycles..rainbow style...
sp, daily, rainbow
vix, daily, rainbow
Summary
There is NO sign of a turn yet - via a blue candle..so those 'big money' bears..will be smarter to wait.
It is highly unlikely we'll see any turn tomorrow either. In fact we could see a further wave higher (C wave?), into the 1360s.
Tuesday earnings, INTC..will be a market mover. They remain a superb company, and I can imagine them doing okay, and thats got to be an excuse for a further ramp.
So..for the smarter..and more conservative bears...its looking like no button hitting until at least Wed/Thursday.