10am update - morning reversal ?

The bulls are seeing some follow through to yesterdays rally..until just a few minutes ago. The smaller 15/60min cycles are quite overbought, and we're seeing some signs of a reversal.

*factory orders: 4.8% vs 4.9% exp


sp'60min

sp'daily5

VIX'60min

Summary

Its a confusing open, we're now seeing black candles starting to appear on a few of the hourly indexes....hmm, a reversal?

Yet, the daily charts are still suggestive of general strength, it now looks like those 'provisional' bearish signals on both the weekly and monthly charts are going to be completed wiped away by early next week.

back at 11am..or earlier..if the reversal intensifies!