sp'60min
Summary
Market closed just under the hourly 10MA of 1549. If bulls can gap over that tomorrow, then an attempt to take out the 1563 high is VERY viable.
The daily index and VIX cycles were warning of possible trouble, and today we saw a little bit more of it. Tomorrows action is probably going to be pretty wild. Got seatbelt?
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Many in the mainstream seem somewhat concerned that QE is going to end soon, as if! No way will the Fed end QE after just a few months. The POMO nonsense is surely going to continue into the summer, if not spring 2014. The latter would be a major problem for those seeking any significant waves lower this year
*I am holding a small block of USO - long Oil, overnight. The precious metals remain surprisingly muted in recent days, so I am merely watching those.
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more later..on the VIX