10am update - seeking a minor down cycle

The main indexes are moderately higher, but there is very high probability of a small down cycle by late morning. Daily charts are all showing first sign of a turn...to the bulls. A few more weeks of upside looks very viable, if not a few months. VIX is naturally lower by 2% or so.


sp'15min

Summary

Well, I think this little up move is just a bonus for the bulls to exit, and for the day-trading bears to re-short..although the latter is extremely high risk with the daily charts now on the turn.

As noted, I'm seeking a down wave, maybe 2-3 hours...and should get all the main indexes moderately red by late morning.

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Exited RIG just earlier..

*I am looking to pick up a major index-long block, but not at current levels. Anything in the low sp'1630s is the target.

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UPDATE 10.15am... weakness is out there..the only issue is how much. Certainly, red indexes look likely within an hour or two.

The only issue in my view is whether we close moderately weak, in the sp'1635/30 area..before another major ramp Wednesday.

10.55.... WHACK !  top is in for the morning..now we fall.