1pm update - battling it out

Main indexes are still holding moderate gains, with the VIX on the edge of taking out its earlier low. Bears are broadly holding the market under the important 1660 line. The rest of the afternoon will be critical, bears arguably need at least a fractional red close.


sp'60min2

sp'daily5

Summary

The H/S formation idea is arguably still viable, but we must close <1660, and preferably <1550.

Certainly, there is NO rollover currently, but the smaller 15/60min cycles could slip lower all the way into the close.

I remain heavy short..and trying to be patient!