12pm update - initial reversal underway

The market is offering the initial signs of a reversal at the upper gap fill zone in the sp'1680s. Bears should be desperate for a flat..or marginally red close. If the latter is achieved, there is moderate chance of downside in the latter part of the week. VIX remains lower by around 5%.


sp'60min

sp'daily5

Summary

I suppose I could be more excited about a possible gap-fill top, but really, baring a close in the low 1670s, I can't take any pull back seriously yet.

Clearly though, there is going to be at least some resistance in the 1680s.

Again, the old question 'who wants to go long here?'.
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VIX update from Mr T.



time for lunch!