12pm update - still waiting for a retracement

This mornings little kick higher to sp'1469 understandably rattled..and short-stopped out a lot of the bears. Yet, there are some signs it was just a fake out. We've some reversal candles, and a few opening black candles on the hourly index charts.


sp'daily2, rainbow

vix'daily, rainbow

Summary

Ignoring the smaller 15/60min cycles, the daily rainbow charts for the indexes/VIX are all warning of a turn.

It has to be said, this is getting frustrating though. Baring a massive renewed push higher >sp'1474, we are still due at least some level of retracement, somewhere in the sp1440/25 zone.

Its just taking a lot longer than I had thought.

Time for lunch!