10am update - maxed out?

Good morning. Mr Market opens the shortened week largely flat, although once again, the Transports and Rus'2000 opened moderately higher..both to new historic highs. VIX is +6%, but that's largely minor noise whilst at such low levels.


sp'daily5

vix'daily

Summary

We could certainly see the sp'1500s this week, although I'm guessing no. Considering the move we've already had, I do not expect that until next month

I'm still seeking a retracement, but the higher we go, the higher the target becomes.

Right now, best bear case is sp'1440. That's only 3% lower, but it feels like a cliff drop.

First target is a daily close below the daily 10MA in the low 1470s.