3pm update - uncertain closing hour

The market has been stuck since the opening gains. The two usual paths..a late hour snap lower, or another mini ramp to close at the highs. Regardless, for the bears, today was the ninth annoying day in a row. VIX is trying to floor in the upper 14s.


sp'60min

vix'60min

Summary

So...another day almost complete. Both big gaps since the decline from 1709 are now filled, and its a case of whether the rally/bounce keeps going..or starts to turn back lower.

For those not already short, it makes for an easy re-short trade, with a short-stop somewhere in the 1685/90s.
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*I remain long VIX, but will be looking to exit if sp'1690s..and if price action offering no sign of a turn.


3.33pm...its getting real tedious again.  10yr yield...2.96.

Those bears seeking a major reversal..need a straight up gap into the 3.05/10s..send the market into a tizzy, and there will be renewed downside in equities.