11am update - cycle topping out?

The market has had a good run so far this morning, but things are very likely at the top end of whats viable for today. The 15min cycle is maxed, although the hourly is nowhere near offering a rollover yet. Oil is still strong, but is off the highs. VIX is only -1.5% Interesting huh?


sp'15min

sp'60min

Summary

Certainly, today's jump is higher than I had expected, but I'm fine with that. It just makes for a better re-short level.

I think the mid 1670s are as high as we're going in this latest round of nonsense.
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*I am heavy short the indexes, - via IWM, from sp'1672.

I am seeking an exit in the sp'1630/25 range within the next few days. I suppose it could take longer, but considering the recent action, I'm very pleased with my re-short level (having bailed at 1639 last Friday morning.
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For me, this should catch the eyes of the equity bears...Oil with a black/fail candle.

A red close would be a bonus.

11.03am... VIX hourly is turning..and has flooted right in the target range of 13.70/50.

Equity bears should be looking for a 'brief' VIX spike in the 16s in the next wave lower.