12pm update - holding moderate gains

The main indexes are holding moderate gains of around 0.7%. The sp' remains stuck just under the 50 day MA of 1666, whilst the Trans/R2K have both broken clearly above. VIX is flat, which is somewhat impressive, although the US/Syria issue is no doubt helping prop it up.


sp'60min

Summary

Near term trend remains to the upside. A close in the 1670s would obviously pave the way for a secondary gap fill in the 1680/85 zone.

I am hoping that isn't 'necessary' before the next down wave.

Regardless, with four hours left of the trading day, the best the bears can look for is some latter day weakness..like Friday.

A close in the 1640s would really help clarify things, but that is probably being overly hopeful again.
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*I remain short...via VIX.


VIX update...from a returning Mr T



time for lunch
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12.31pm.. well, there  goes the 50 day MA on the sp'500...so..a test of the 1669 high is going to happen.

A daily close in the 1670s..well, that would effectively guarantee a second gap fill in the 1680/85 zone. For those short the market, this is annoying start to the week.
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