10am update - opening rally failing

The main indexes open moderately higher, but price action looks set to be weak for at least a few hours. First downside target zone remains sp'1715/10. With broader weekly charts outright bullish, any close >1705 should be acceptable to the bull maniacs.


sp'60min

sp'daily5

Summary

*daily 10MA will be offering strong support around 1705/10 next Monday. I simply can't imagine this market back <1700 for some weeks..if not months.
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So..lets see if we get a little further weakness across the morning, and if things can stabilise in the 1715/10 zone.
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*I remain entirely on the sidelines, would seriously consider going long in the low 1710s.

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ohh.. and look at that VIX... indexes red... VIX..red.

A fearless market indeed!