sp'15min
vix'60min
Summary
All things considered, I don't think the bears can break back into the 1630s.
There is important econ-data this morning - the PMI number at 9.45am will be a market mover, look for the market to especially move at 9.40am - when a number of people receive the data prior to main market.
So..my best guess for today - market sells off to around 10.30/11am, but holds sp'1642/40, as best seen on the 15min cycle chart.
*look for an opening black/fail candle on the VIX.
However, I will note the MACD cycle on the VIX offers a broad VIX rise across the ENTIRE day. Arguably, that is the most bearish possibility right now.
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*I am heavy short the indexes, and will seek an exit at the open.
I do not intend to go long today, but will consider trading long (probably via Oil) next Monday instead.
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Update from Permabull...Mr Carboni...
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tis the last day of the week..and month. Updates across the day.
UPDATE 9.33am... exiting short positions...