3pm update - closing hour recovery?

The market remains moderately lower, with the sp at 1696.VIX is +7% or so, but is still in the 12s. Hourly charts are still offering significant upside across Wed/Thursday, so long as the market can close today >1695. Metals remain weak, Gold -$17


sp'60min

VIX'60min

Summary

*VIX is making a play to take out the morning high, but from an hourly cycle perspective, it looks maxed out.
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Lets be clear, any daily close <1695 will be bearish, and suggestive that a multi-week high is already in.

Otherwise, its another wave higher to the sp'1715/25 target zone across the next day or two.
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So..which side we close of sp'1695 will be important.

I'm guessing on the upper side..and I am indeed..still waiting!
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