2pm update - just more minor chop

The morning low has been taken out, but the bears still lack any consistent downside power. If Mr Market wants maximum confusion, it will drop to 1675, but then ramp hard into Friday opex to 1695/1700. Metals and Oil both holding moderate gains.


sp'60min

AAPL, daily

Summary

I certainly can't take any of this minor chop seriously. A few pts up..a few pts down...with the VIX in the 12s.

There is a time to trade..and a time to just leave it alone. Surely, its the latter right now?

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I remain waiting for Friday opex...seeking an index re-short in the 1695/1700 zone.

Bears really need to keep that QE-pomo in mind, especially if we close today weak..and open Thursday in the 1670s. That would make for a nasty whipsaw back upward into late Friday.