12pm update - still waiting for a bounce

The main indexes have slipped again in late morning, breaking into the 1570s, which is some 77pts lower than earlier this week. Hourly index cycles are deeply oversold, and it is likely just a matter of hours before the market can solidify a short term floor.


sp'60min

Summary

I am seeking a break above the declining hourly 10MA, and that will open the door to 1610/20.

Interestingly, the 61% fib retrace is now at the lower gap area of 1625. and that 1625 level has been a price-cluster zone for the past few weeks.
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*I hold a small long-index position from a little earlier, seeking an exit >sp'1600.