1pm update - start of a latter day ramp?

The hourly index/VIX cycle charts are offering the first sign of a turn. Equity bulls should be looking sp>1705 by the close, with VIX back <14. It remains a largely quiet market, and with significant QE fuel across the week, bears face major problems.


sp'60min

vix'60min

Summary

Far from getting wrapped in bearish hysteria - and that is exactly what its been for months, I remain focused on the bigger weekly trends, which remain outright bullish.

Yes, the bears have managed a drop from 1729 to 1697 in just 3 trading days, but there really isn't any real power behind it.

Its getting tiresome again, and its only Monday.
-

VIX update from Mr T.



stay tuned