2pm update - bulls consolidating gains

Mr Market is holding onto most of the gains, and so long as we don't close <1370, bulls should be confident of a further 30/40pts to go. VIX is -5%, but is completely unreliable lately.


sp'daily5

VIX'daily

Summary

A very minor down cycle is viable across the next 2-4 trading hours, but its going to be high risk for anyone re-shorting here, even as an intra-day trade.

I'm very content to remain a spectator until next week. Primary target is sp'1425

back at 3pm