sp'60min
vix'60min
Summary
Its really starting to get ugly out there, and if we start breaking new index highs - not just on the SP'500, then a LOT of charts will have to get trashed at the close of today/tomorrow.
I suppose this could just be one of those extreme capitulation moves before a big turn, but still, for those bears still out there, today is really starting to get annoying.
*Oil is kinda flat again...
A full back-test of the original H/S neckline @ 33 seems the highest it can go. Unless you think Oil is going to ramp >$100 this summer, this is arguably in the re-short target zone.
11.27am... we seem stuck at 1589/90. Oil is still rising though, and coming up to test the old USO neckline of 33.00