sp'60min
vix'60min
Summary
Daily charts (not shown) are still to rollover, so lets be clear...bears can't be the least bit confident yet.
Worse, any break >1592, and that would really mess things up for my mid-term outlook.
Bears need a close <1570, with VIX in the 15/16s.
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*I remain heavy short, via SPY & USO. Seeking a break <1536 within 5-7 trading days. Primary target is sp'1485, with VIX in the low 20s.
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10.15am. sp'1590.. we're right on the border again. Anything >1592..and we'll spiral much higher.
Urghh, this is starting to get annoying again!
10.30am.. sp'1592.64 was the Thursday high, and we're barely 1pt away.
Dow/Transports..already ABOVE the Thursday high.
The sp'1600 believers will be appearing all over the web within the hour. I can't say I blame them. This ain't looking so good.