12pm update - floor in for initial wave'1

It would seem the floor for this initial wave lower - from the sp'1597 high, is in. A moderate bounce into the 1570s (again) seems likely into Friday opex. Baring a break of sp'1538, bears should probably be sitting it out for a few days. VIX looks like its topped out.


sp'60min

vix'60min

Summary

It does look like the fifth wave is complete.
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*I sure can't stomach going long the indexes, but I have instead taken a moderate Oil (long) position, will hold into tomorrow.
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Time for lunch!