10am update - due a small down cycle

The main market opens moderately higher, but there is clearly some selling starting to appear. The monthly and weekly charts look disturbingly strong, even a fall back to sp'1715/10 will do nothing to negate yesterdays break.


sp'60min

Summary

Best downside case for the bears looks to be 1715 by early tomorrow...but hey..that will be difficult.

Today has $3bn of QE, and underlying momentum is so strongly to the upside, any pull backs are going to be very minor.
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VIX is offering a reversal candle on the daily/hourly charts

But considering the bigger equity charts, its to be dismissed.