11am update - its a nasty market

It looks like Mr Market has done its worse to annoy every day trader today. Opening moderate gains, then a reversal...breaking the recent 1543 low, but then a reversal BACK to the upside. VIX did NOT break a new high, and I'm holding to the original count/outlook.


sp'60min

VIX'60min

Summary

This was almost certainly just a very nasty fake out by Mr Market.

Not only did the bears get stopped out at the open...then the bulls - buying the open get kicked, as we reversed lower.

Now the bears chasing the open lower get stopped out, as we reverse to the upside!

Its darkly funny, dare I say.

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*I'm sitting back, until late Friday...for a major re-short.


UPDATE 11.28am... Market sells off a little, but its still comfortably holding higher.

Underlying hourly MACD cycles all saying UP UP UP.

The sp'1560s by the close...very viable.
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