12pm update - bears need give it a few more hours

The opening gains have already completely faded from most indexes. Those bears seeking much lower levels need to give the market a few more hours to churn, battle it out, and then show some weakness into the close. Whether we can spiral lower to close <sp'1400, looks kinda optimistic right now, but everything IS in place.


trans'60min

vix'60min

Summary

The VIX is pulling back right now, and is a little close to the earlier floor. A break of that would not be good! The VIX sure can get twitchy though, this kind of crazy pullback is kinda normal.
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I remain short, seeking my next exit around sp'1395, although my primary target is 1385/75 by late Tuesday.

With FOMC next Wednesday, I am very concerned about a mini ramp (wave C ?) to take us into Christmas week.

Time for lunch..on this cold day..in London city.

UPDATE 12.30pm.  AAPL 1-3 hours away from getting the death cross, that I warned about on Monday.

All those dumb knife catchers buying AAPL yesterday are now getting the smack down.
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