1pm update - stuck at sp'1647

Market is looking real tired on the micro-cycles. The sp'1635 level looks viable this afternoon, and there remains an obvious gap around 1625. Volume is light, and no doubt that is helping the bots to melt things higher at times.


sp'15min

Summary

A choppy..and messy day. Arguably..one to just step away from.

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If we are trading in the mid 1620s tomorrow, it will be interesting to see how big a bounce we get.

*I remain largely on the sidelines now, and will see how we trade Tuesday morning. Arguably, it remains a 'go long'.

Bulls are without any QE-pomo help until Thursday though, so its kinda interesting to see how the market copes without it.


VIX update from Mr T



It would seem few expect the VIX back under 14 for very long.