11am update - another dumb micro-bounce

Opening chop has now turned to yet another micro-rally. A move over sp'1416 would open up the low 1420s, and threaten the near term bearish outlook. VIX and Dollar are still green though, so..the current minor equity gains are very vulnerable.


sp'60min

sp'daily5

Summary

Its yet another messy day. There is still a lack of direction.

*VIX 60min, looking weak, despite fractional gains. urghh

I remain short, but its so frustrating, I am real tired of waiting for this nonsense to get back into the mid 1390s.

AAPL is seeing some crazy action as the bull maniacs try to knife catch. A death-cross is still due tomorrow, and the near term trend remains down.

Transports remains weak, despite the other indexes. Seeking a clear break under what could be a bear flag @ <5080

re: 'stupid market' see this story from Zerohedge on the nonsense so far this morning.