10am update - time for another QE

The main indexes are lower, but there is a QE of 3-4bn due, and the smaller 15/60min cycles are in an oversold state. Precious metals are higher, but starting to fade again, Oil is lower, but looks set to bounce into the late morning.


sp'60min

 
VIX'60min

Summary

*There is an awful lot going on today, I'll do my best to cover it!

The declining hourly 10MA will be first resistance on the next bounce - currently 1667..but falling fast.

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I remain on the sidelines, seeking a re-short later today. I expect half of the declines to be recovered, but it seems a little unlikely that indexes will turn green.
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10.05am.. here comes the turn..I believe. No excuse for the bears with short positions not to be exiting now.
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*No QE tomorrow, hence my confidence in a re-short later today...and into the Friday close.


10.20am... sp'1660...@ 2pm?

Thats the current..best guess
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10.30am... pomo money is probably kicking in about now.  15min cycle due to go positive in about an hour..so..there should be 'general' upside until 1pm..if not a bit longer.