sp'60min
vix'60min
Summary
*VIX looks 'relatively' floored
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We're at what is very strong resistance. There is of course the gap-zone, around sp'1625, and we could easily be there later today/early Friday.
It remains a problem how we close the week.
If we close anywhere >1605, that seriously wrecks the broader down cycle since May'22.
Any close >1620, and it arguably destroys the original hopes of a further wave lower to 1530s.
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The rest of today..and tomorrow will be important.
*I remain heavy short..and now underwater. As noted, a weekly close >1620, and I'll have to seriously consider selling...regardless of price/loss.
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UPDATE 11.16am, well, we're seeing some kind of reaction from the resistance zone.
As noted..bears just need a daily close <1610, to break the channel