sp'60min
vix'60min
Summary
Standing by for a major re-short. Eyes on the 5/15min sp and VIX cycles.
Kinda exciting huh?
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10am...I'm now SHORT the indexes @ 1572.
10.08am....so, I'm short, seeking first exit target at the lower bollinger - hourly chart..currently 1536, but that will probably rise to the 1545/50 area by Thur/Friday.
Bears should be seeking a green VIX close, that'd be a very good sign.
VIX'15min
Arguably close to a floor. Certainly...NO turn yet...but its right in the target zone of the mid 13s.
Those looking to buy TVIX, well, now is about the time, with good stops, not least at the sp'1597 level, if bulls are going to magically achieve that..which I can't imagine.
10.25am.. VIX holding the low, but the indexes spike to 1576. Hmm..
Bears should be able to tolerate a spike higher, but clearly, a daily close >1575 would be an issue.
All things considered, I'm content with my re-short from 1572, its a hell of a lot better than those who been holding since 1540/30s.
10.32am sp'1576/75...its about as high as most bears should be tolerating this morning.
10.37am.. VIX looks like its floored, in whichcase indexes should be follow soon enough.