The 15min' cycles are warning that a turn is due.
sp'15min
vix'15min
Summary
I bailed earlier from ALL short positions, considering the daily cycles, things just don't look inspiring right now. There is a very high chance of further nonsense talk from Draghi kicking this market back to 1410/15 at any moment.
I'd be inclined to re-short anywhere over 1410, but for the moment....I'm very content to be a spectator again.
Until we break into the 1340s..the primary trend is UP. Bears...beware.