1pm update - floored at sp'1560

There is high probability that 1560 was the near term floor, and we're now seeing a bounce. First soft target is 1580, but 1600/10 is viable by late Tuesday. Regardless of the bounce size, primary downside target remains the lower weekly bol...now at 1495.


sp'60min

Summary

With the VIX cooling down, I have to think the bulls are getting a major opportunity for a relief bounce into the close..and some of Tuesday.

1580s look pretty easy, the only issue is whether we can pierce back >1600.
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*I am currently holding a small index-long block, I'll drop that if 1580s later today.

Seeking a FULL re-short, later tomorrow. :)