11am update - market failure, or a cruel tease?

After opening gains, the market has gone into full reverse. The dollar is up, and commodities are starting to get hit bad, especially Gold and Oil.


sp'60min

vix'60min

Summary

Its interesting, but I sure don't trust this initial reversal.

I would only be somewhat 'curiously bearish' about next Monday if we close today <1412., which is still a long way down right now.

time for early lunch..back at 12pm

UPDATE

Bears need a 'bearish engulfing candle'.

Sp'daily5

We need a close <1412, which will be super difficult, since underlying momentum (see MACD) is starting to battle higher)