sp'15min
Summary
I'm still looking for another micro down wave, in the 1626/24 area..before a late day bounce.
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If we don't fall anymore...I'll just sit it out across the weekend.
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SLV - which I'm short, is still building a top..
I guess I'll be holding that across the weekend!
1pm..well, we're getting another down wave.
standing by to pick up an index block (long!)
1.03pm...almost there!
1.10pm.. am Long (light) the indexes from sp'1626
on the R2K, 5min cycle, it looks floored. It appears a cleaner cycle than sp'500
I'll hold (small) index long into Monday..when there is a 5-6bn QE.
1.26pm... sp'1625..we're at the key zone.
Now, either the bears are somehow going to magically keep kicking this market lower, and take out 1608...or..this is merely indeed just a retracement..and sooner or later..we go back up.
Considering everything, I just can't see the bears managing <1608, in which case...UP.
I'll only get a bit concerned if 1620 fails this afternoon.
1.36pm...is that it?
stay tuned