The market jumped back higher after a mid morning decline. It still seems likely that a sub'5 is imminent. Bears might have to be patient and wait for those 1540s early tomorrow. VIX is in the low 14s, down 14% or so. Metals holding gains, whilst Oil is relatively weak.
Suffice to say..I hold HEAVY short from sp'1563, waiting for a 2-5 hour down cycle, which now seems to complete sometime tomorrow.
Bears need to keep a lid on this nonsense, there is natural resistance in the 1570/75 area, but frankly, that'd be really annoying.
time for lunch
A good example of what I want to see on the main indexes later today..
BKS.. opening rally...and its failed. Looking for a red close. (not that I'm trading it)..
Daily MACD is actually now back to negative cycle.