10am update - bears starting to bite

After yet more lousy earnings, Mr Market is seeing some pretty exciting opening action Yesterdays closing hour ramp is entirely negated, and to be dismissed as what it was..nonsense. Next downside target is 1397, that will be 'difficult' to break though.


sp'60min

sp'daily5

vix'60min

Summary

An exciting open, but as ever..important to focus on the bigger targets. The weekly cycle targets secondary rising support in the 1380/70 level, that is viable, but it sure won't be easy to get down to that level.

The VIX  has already made a break into the 18s...the big 20' level would be a major victory for the bears.

*I am short, seeking an exit around 1400.

back at 11am (updates more frequent..when things...'exciting' ;)