10am update - rough start to the week

Good morning. Those overnight moderate declines sure did not hold, and we're up around 0.6% or so on the main indexes. Sp' is close to re-taking the key 1450 level, and a move over 1455 would largely wreck the H/S idea.

VIX opened 3% higher, but is now back to flat.

*Awaiting key ISM data at 10am


SP'60min

SP'daily5

Summary

So, is that it for the bears this week? Another wave higher? Err, I'm still going to guess.. no, but I don't think we can move much below 1420, before another week or two higher.

As has been the case since June, bulls need to hold above the recent low of 1397, and merely seek another higher hgh >1474.

stay tuned!