3pm update - bears fail...again

With the Nasdaq at new highs, and the Dow/Trans taking out the high from last Thursday, the bulls have achieved a significant victory to begin the week. Even if the bears can manage a small down cycle into the 1580s tomorrow, it will count for nothing. Only the 1560s offer any hope of a mid-term trend change.


sp'60min

vix'60min

Summary

VIX might close green, not that it really matters. Most of the indexes have broken key levels, and the only issue now is whether the bulls can get follow through on Tuesday.

Hourly charts are closing to a turn, but as noted...baring a break <sp'1570, its all irrevelent.
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3.09pm.. hourly charts..rolling over..hence the touch of weakness.

Yet..as I will keep noting though..until we're in the 1560s..bears have 'issues'.

VIX fractionally green.
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3.41pm...bears just got no power. A close in the 1590s..with VIX 13s. Major failure to start the week.

back at the close.