12pm update - bears getting booted

A really messy Monday morning, minor gains, then fractional declines..and now we're seeing moderate gains of around 0.5% on the main indexes. Is that it for this cycle? The VIX is certainly saying 'no fear'.


sp'60min

sp'daily5

Summary

The daily MACD cycle now starting to tick upward, but still 4 hours to go.

Bears should certainly seek a flat close, preferably a touch red.

The real concern is that if today was the low, then the next cycle is probably going to push to a new high, in which case we're STILL putting in higher highs..and higher lows.

We still have a good four hours left though, and could easily see these gains fizzle away.  I'm short yet another block from sp'1436 just a little earlier.

Time for lunch

back at 2pm