11am update - bears in trouble

The market appears to have completed a classic gap-fill scenario, and now we're headed back upward. We could easily close green today, and that will set up the sp'1660/70s by the Friday close. For the bears, today looks to have been another dreadful failure.


sp'15min

vix'60min

Summary

Well, we're battling higher, at a pace that exceeds even my outlook.
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*I am HEAVY long from sp'1626, I will look to exit sometime in the next few hours. I like to keep things 'simple'.

next soft target is sp'1636/37..looks viable this hour.
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11.23am.. EXITED index longs @ sp'1634. I'm just a little edgy today.

I still think we broadly climb in the days ahead, but I'm out for today. Will consider another long-entry tomorrow morning.


11.30am...well, market seeing the MACD cycle go +..and we're seeing the reaction. sp'1640s imminent.

Bears....effectively nuked again, especially those chasing the lower open.
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*I am holding one minor long position still, MRO. It has been a bit of a laggard lately. I will still look to drop that later this week in the sp'1660/70s.