2pm update - day trading bears get the kick

We're seeing a moderate little spike to the upside, and doubtless, all those bearish day traders have just got short-stopped out. The VIX remains a touch higher, and there are still a lot of twitchy algo-bots out there. Seeking late afternoon weakness.


sp'daily5

vix'daily

Summary

Looking for a turn lower after 2.30pm, at least a flat close, if not red indexes.

Transports and Rus'2000 remain the stronger indexes.
--

On the contrary side, if we do manage to break above the recent 1448 high, then once again, bears are right back to square one.

Two hours to go, that is plenty of time to see this nonsense reverse.

BTU continues to rollover..forming what might be a right shoulder.

Bears need a few daily closes <25 to be sure of the H/S formation though.