10am update - morning skirmish

The various econ-data has come in marginally poor, but the market is still largely holding together. Bears just need to contain this morning under 1660, and there should be increasing weakness as the day proceeds. USD is weak, Oil very weak, Metals are strong.


sp'60min2

VIX'60min

Summary

Market on the edge of violating my little H/S idea. An hour or two trading in the 1660s will mess that up.
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15min cycle is probably going to max out though pretty soon.

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*I remain short, will probably hold until at least the latter part of today, if not early Friday.


A short, but wise economics chat...




UPDATE: 10.01am... Adding to existing SHORT position, from sp'1658s


sp'15min...

What you think? A fail here would make for a rather interesting afternoon.

10.18am..15min cycle rolling over..and so far..bears have held the line. Now we need to see the indexes go red by lunch time.