10am update - urghh, another week begins

Forgive me if I'm not entirely enthusiastic about yet another week. Until we see a VIX back in the 20s, I'm just not going to get much wrapped up in any of this nonsense.


sp'60min

sp'daily5

Summary

The hourly cycles are a mess.

However, the daily  cycles are actually rolling over, and a close under 1450 would be pretty interesting.

The key issue is whether last Fridays break higher - above the bear flag, was a failed break. Bears need a close <1450, preferably 1430s this week, to confirm that failure.

VIX is +6%, but still in the lowly 15s.

back at 11am, when maybe a bit more dynamic action will have started.