10am update - choppy open

Market has quickly broken to fractional new lows, but we've not yet seen anything in the 1360s. VIX is actually green, but the move is very minor. There seems a lack of power from the bears, and even if we can break to 1365 in the next few hours, we'll surely bounce from there.


sp'15min

sp'daily5

Summary

There remains nothing bullish in the daily charts, this is the fourth day under the 200 day MA for the sp'500, bulls have lost all mid-term momentum.

Well, I'm holding short, seeking an exit later today @ 1365..if I can get it, with another re-short late in the afternoon, 7-10pts higher.

If I have to wait until tomorrow,  I can live with that.

stay tuned :)

UPDATE 10.03am

VIX is at the floor of what is possibly an INV. H/S formation..any lower, and its arguably busted.

UPDATE 10.38am

Its a bit of a fierce little battle right now, VIX trying to flip back to green, after breaking 3% lower. $ is a touch higher, hmm.