11am update - market trying to floor..again

Another morning of equity weakness, but the hourly index charts are offering a potential floor at sp'1691 - around the second gap level and fib' 38% retrace. VIX is showing zero concern, and is now already fractionally red! Metals continue to see moderate chop, with Gold +$5


sp'60min

vix'60min

Summary

All things considered, this could easily be the floor, but confidence is not high..yet.

Bulls need to break back into the 1710s before they can start getting confident for October.
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*underlying MACD (blue bar histogram) hourly cycle is offering some good divergence. At the current rate, best case for equity upside will not be until tomorrow.
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11.47am... sp'1705..first target...although there is multiple resistance.

Again, like yesterday, bulls should merely aim for ANY close above 1705.