11am update - Mr Market trying to spook the bears

The market is holding onto moderate gains, with the sp back in the low 1590s. The ultimate issue remains, will the bulls be able take out the key 1597 high? The daily, weekly, and even monthly charts are still highly supportive that this will not be broken. We'll know soon enough.


sp'60min

Summary

Bear flag on the hourly chart?

We could easily just churn prices sideways - with a touch of weakness, into the close. I guess you could even count today as a possible sub' 2.

That would set up a bearish Friday.
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regardless, I hold short into Friday. No risk...no gain.
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Oil - via USO, daily2

 Oil is following the main market, but could easily close a touch red by the close.
*I am short USO from the 33.20s, seeking the 31s.
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11.13am.. sp'1594s...a mere 3pts to go for those who are seeking much higher levels into mid-May.

There will no doubt be a lot of short-stops at the 1597/98, and the big 1600 level. If the market really wants to mess with everyone today, jump above..and close under. 
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11.42am... VIX is holding in the 13.80s... are bulls look a bit stuck @ 1595/96.

No doubt this is spooking many.