2pm update - tired indexes

Tis a quiet day before May opex. Sp' looks stuck, just under 1660. First soft downside support is the rising daily 10MA of 1635, which will be another 5pts higher by the Friday close. Despite the big pomo tomorrow, will the market makers be able to knock prices lower for max-pain?


sp'daily5

SLV'daily

Summary

It continues to be a rather quiet Thursday. Not much of anything going on.

I remain intrigued by the VIX daily chart though. Underlying MACD cycle is due to go positive in about two days..and that is where we would normally see some degree of index downside.

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*I am short SLV, from just a little earlier, a touch under 22. Target is..19. All main cycles are ticking lower, and the 15/60min charts are now arguably ready for another wave lower.

Regardless, I hold short SLV overnight..and probably into early next week.
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2.32pm...Transports is starting to rollover, not much, just 0.35%..but it could be the start of something across the next few days.

Precious metals and Oil so far holding together