With the break of the five week trading range floor of sp'1675, it is now highly arguable that 1709 was indeed a key mid-term high. VIX is 10% higher in the low 14s. Gold is weak, with Oil losing earlier minor gains. Bears are on the rampage.. ahead of a large QE-pomo.
Well...that is as clear a break as the bears could have hoped for.
CSCO is an interesting one...tempting to get involved (short-side) on any micro-bounce.
Pretty clear break...downside to the 1650s..where there is a very clear gap.
10.40am.. all the hourly cycles are strongly turning back to the bulls.
There is no real volume on the sell side...its largely technical..with the break of support.
Bears should be bailing here!