sp'60min
Summary
Well, certainly no clear break lower yet.
On any basis though, the bulls are a good 43pts above the Monday low, and considering the recent market mood, the general weakness should return at some point.
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Regardless of how we close, I ain't exiting.
If the bull maniacs can manage 1620s..so be it.
What I do know is that the upward channel from November is busted.
Downside target remains the lower weekly bol..currently sp'1495.
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*could be worse, I could be long Gold/Silver
yours..
the patient bear :)
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2.12pm.. market looking tired @ sp'1602. Hmm, can the bears whipsaw this lower by the close?
Key thing to look remains... VIX in the 18s. That'd set up tomorrow morning for VIX 20+
2.30pm.. .1604s, oh well, 1607/08 will surely be hit now.
For the bulls, a close of 1608/10, would open the door to 1620/25 tomorrow. That'd indeed be..annoying for those already short.