12pm update - choppy, but weak

The market is still pretty choppy, the sp' is only lower by 0.4%, a marginal amount on any basis. Primary downside target remains 1675, although considering the choppy price action, that will be difficult today.


sp'60min

Summary

What to say? We're really only talking about marginal declines.

It remains depressingly laughable that the bears still struggle to knock the market lower by 0.5%, never mind a barely significant 1%.

*ohh, and its not surprising to see a near perfect intra-day bounce off the lower bollinger - hourly cycle.
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Regardless, I'm trying to be patient, 1675 looks a given, just a matter of giving it some time.


VIX update...



time for lunch