sp'60min - with count
sp'daily5
Summary
Well, futures are luminous green, and no doubt those bears holding short overnight are waking up with some mild dismay.
*Gold, Silver, and the miners are soaring, although the gains are still a mere fraction of recent declines.
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Key things to watch for in the opening 30 minutes...
1. black candles on the hourly/daily index charts for IWM and Transports
They are usually the first ones to warn of a failed opening bounce/rally.
2. reversal candles on the VIX . Hollow-red, indicating failed bullish index gains.
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I will seek a major re-short in the low/mid sp'1560s, via an index short, and will seek to exit in the 1540s late today..or early tomorrow.
Considering the daily index and VIX charts now have good MACD rollovers..I'm very confident with this plan..and the 60min count I have.
Good wishes for Tuesday.
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Video... Oscar...
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To be clear, I will seeking an index re-short this morning, I think I'll go with the IWM, with is almost 91..my downside target is about 89/88.50