12pm update - how big a bounce?

Mr Market is looking shaky again today. Those early gains failed to hold, and we've seen my next soft target of 1365 hit. Primary target remains sp'1345, which could be hit as early as tomorrow. VIX remains a problem for the bears, and is still not able to hold the 17s.


sp'15min

sp'daily5

Summary

Those deluded bull maniacs should be getting real twitchy now, we've broken into the 1360s, and my primary target of 1345 remains right on track.
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I am seeking a re-short later today, sometime around 2-3pm.

A bounce to 1375/80 seems very likely, and would make for a nice trade down to 1350/40.

*Fed minutes due at 2pm, I can't guess how market will react to that.
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further updates....as necessary (your invoice is in the mail)

UPDATE 12.30pm

Well, we just had a little wave lower, a B'wave ? Regardless, the spike, is suggestive we're still headed for 1375/80 within a few hours.