sp'60min
Summary
So, we're set to open lower..as I was expecting, but again, we're not even talking about a 1% drop.
Bears are still weak, and are likely to going to find this week 'tiresome'.
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*I will look to exit my current index-short position at the open.
Frankly, I just don't see much downside beyond the mid 1670s, and as an options trader, I'm concerned about decay, due to lack of volatility.
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Bears should be VERY mindful of the VIX at the open.
Look for black candle on any of the cycle charts, if we get a closing black candle on the hourly by 10am..then the bears are very likely done for the week.
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9.32am. short-stopped out of index-short, at sp'1684.
BLACK candle on the hourly VIX ...so far...and that bodes badly for those bears holding short into the afternoon.
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I suppose we could keep falling, but downside looks limited, .I'm glad to be out.
9.42am.. R2K does a moon shot, now green.. with red VIX.
Well, as I thought, 'bears..powerless'. Can't even manage a 1% fall.
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