2pm update - making some moves

Mr Market looks somewhat stuck at sp'1571/73. A move to test the 1576 high remains viable at any time. A swift reversal to the downside remains a very real problem to anyone 'heavy long' at these historic levels. VIX looks floored, -5% in the 12.90s.


sp'60min

vix'60min

Summary

A somewhat interesting..but slow day.
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*With the market very close to a top, I am looking to build a series of short positions, with a primary target of sp'1470s by mid-May.

I am now short USO from a little earlier, in the 34.70s, downside target is the 31s

I will also look to short the indexes/long VIX across the next few days.
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back at 3pm