sp'60min
sp'daily5
Summary
So, we're likely to open in the low 1560s..after yesterday afternoons late mini ramp. Indeed, the market likes to mess with the minds of as many as it can.
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I hold to the original count. If we are seeing a sub'5 play out, it likely will be concluded today, somewhere under the wave'3 (Monday) low of 1552.
One particularly thing to look for is a lower high on the VIX. I don't expect 17s, even if we break into the sp'1540s. VIX...has its quirks.
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*I remain heavy short from yesterday, seeking an exit in the sp'1545/40 zone, with VIX in the low 16s. I still expect upside pressure into Friday opex.
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updates across the day!
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8.50am... Gold flipped from negative to +$18 just earlier. No idea why, but this sort of volatility..to be expected.
Bears need to see sp -17pts to conclusively take out yesterdays low. Its kinda important we do that early on.
9.38am...well, we're under yesterdays low....
seeking the 1540s...
9.42am...I have a tight stop in place, if i get the kick..so be it. I'm just annoyed my entry was not so great yesterday.
Sp' 1557s...so..1540s look feasible.
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*I have exited @ sp'1559, minor gain...after concerns with the VIX.