Without question, its a bit of mess out there.
sp'60min
VIX'60min
Summary
Indexes look floored on the 15, 60, and daily charts.
Yes, the weekly...and MONTHLY charts are now showing initial signs of a rollover, but...its very much 'initial', nothing clear...yet.
*I remain long RIG, and looking to go long indexes..perhaps this hour.
UPDATE 10.02am.. .econ-data comes in poor...market takes another swing to the downside.
10.05am.. I am now heavy long indexes from sp'1631.
First upside target is sp'1645/50
10.14am.. stopped out of my heavy IWM long position...for a very significant gain.
Options..sure are crazy.
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10.30am... it remains a choppy mess out there...people seem to be selling into each little ramp...yours truly included.
To be clear though, I will look to go long again early tomorrow. Daily/60min cycle ..oversold.
10.35am...red indexes again...VIX +2%....kinda interesting, but I sure don't see anything happening today/tomorrow, other than chop.
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10.42am.. market about to hit my secondary target of sp'1624/23..that I set over a week ago.
Best case for the bears...sp'1615/10...I''d be surprised if 1600/1597 gap fill.
Regardless, it'll just make for a better place to go long.