10am update - bears remain very weak

The indexes open moderately lower, but we're already seeing some strength, with the R2K and Nasdaq turning positive. With the VIX opening with a classic black candle, and having now turned red, the bears should probably write this week off.


sp'60min

vix'60min

Summary

Once again we're seeing another fine example of just how weak the bears are, and what the underlying market price pressure is.

I realise for many bears out there, this week is already getting annoying.
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*I am back on the sidelines, having dropped my index short at the open - at sp'1684.

I do not intend to get back involved in the market for some days, perhaps late Thursday/early Friday, if we're again stuck at the 1700 level.
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I do not expect anything <1670 this week, but ...next week...1650/40s...very viable.