sp'60min
vix'60min
Summary
Those bears seeking a major gap down to begin the week, will no doubt be annoyed with the opening gains.
Things could be a bit choppy for the next few days.
Secondary downside target remains 1615/10 - as suggested by a number of factors. Yet frankly, there is every reason to believe that 1630 might have been a 'fractionally lower low'.
If that's the case, bulls merely need a daily close >1650, and that will open up the first challenge of the Bernanke 'reversal day' high of 1687.
Considering its Tuesday tomorrow, why not?
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What am I planning? Well, I'm in no hurry to do anything, and I certainly don't think its particularly safe on the short side, never mind that QE continues. I'll consider an index or Oil long, later today/early Tuesday.
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updates across the day.