1pm update - waiting for a provisional rollover

Market appears stuck a touch under sp'1580, and both the 15/60min cycles are due to rollover this afternoon. Arguably, the only issue is how low can we go on the next 'small' cycle into early Wednesday. Bears should be seeking a Tuesday VIX close back in the low 14s.


sp'15min

vix'60min

Summary

Obviously, the last line in the sand for the bears is 1597. Personally, I can't see that being broken over, not least since the weekly charts are STILL warning of trouble, as they have been for the last 2-3 weeks.

Nothing has changed, and indeed..today's gains were largely expected.
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Now..its just a case of waiting for a rollover, and seeing how far we can fall...and how fast.

*I will hold heavy short into Wednesday...and more likely into late Friday.
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1.10pm WTF ? wahhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh

Holy moly....'raise the shields'...its flashy crashy action....

Urghh

1.16pm...seems the AP news was HACKED, a false report about Obama and the Whitehouse sent the algo-bots into freakout mode..and market dropped 1% in seconds.

CNBC confirming the AP twitter feed was HACKED.
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Man alive, that was crazy.

*interesting that the algo-bots are literallly reacting second by second to the twitter feeds.

Regardless of that nonsense, I am STILL looking for a rollover..just not that fast.