1pm update - floored..maybe

The market has seen some significant morning weakness, but its quite possibly just floored @ sp'1615. The bulls should be 'desperate' for a daily close >1630. Anything under that, and the daily charts won't bode well for Thursday, despite the looming QE.


sp'15min

Summary

15min cycle chart looks floored, and is set to go positive cycle around 2pm.

So, 1 hour to battle higher..and then see what kind of snap/upside the bulls can muster.
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*I am long (naturally underwater) from sp'1624. It won't take much of an up cycle to get to evens, but the 1630s look a long way up.


VIX hourly looks..maxed out

Bulls really need this afternoon to go almost entirely their way.


1.09pm... Bulls need to push here..and NOT stop!

First target...an hourly close >1630. A daily close >1635 would more than suffice.


VIX update from Mr T



stay tuned