sp'60min
sp'daily5
VIX, daily, rainbow
Summary
Hmm, so, opening gains, but certainly nothing dramatic. Considering the daily and weekly index cycles, it is arguably a shorting opportunity, at least for a day-trade.
*The earlier GDP Q2 (revised) of 1.25%, and Durable Goods Orders of -13.2%...truly beyond dire. Clearly, the Fed believes the US is now in recession in Q3, and thats why it initiated QE3.
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VIX rainbow chart, still a green candle despite the opening declines, trend remains UP. I am most certainly looking for a brief spike to 18/19 either late today, or tomorrow.
I hold to my original target of 1420 by the Friday close, and look to exit there.
back at 12pm