1pm update - beware of bearish hysteria

The main indexes are struggling a little, but the bears have only knocked the sp'500 lower by 0.38%. Yet, there is some very clear 'crashy' chatter out there, which is unquestionably just a case of bearish hysteria. Oil is still slipping, now -1.7%


sp'60min

Summary

These remain micro..if not nano-scale index moves, and even to me, seeing ANY kind of bearish talk right now is laughable.

The weekly charts remain outright bullish, and I want to see sp'1710/20s before I'll consider shorting the indexes.
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*there is a clear gap around sp'1655, but really, how are we going to fall another 30pts this week?

Hourly MACD cycle is very low, and I'm guessing we rally into early Thursday..when there is a large QE anyway.