12pm update - minor down cycle

The main indexes have slipped moderately lower, with the sp' swinging from 1775 to 1766. Considering the daily and weekly cycles, equity bears need to be mindful of a renewed push higher into the 1780/90s later today..on renewed mainstream hysteria that 'the Fed has the markets back'.


sp'60min

VIX'60min

VIX'5min

Summary

*VIX is creeping higher, and we have some kooky spikes on the 5min chart. Most bearish (equity side) for the close, 15.75/16.25
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Best case downside for the bears by the close are the low 1750s, but really, that will arguably be more difficult until after a blow-off spike higher into the 1785/95 zone.

The lower gap zone of the low sp'1730s looks to be the 'best the bears can get' in early November.
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VIX update from Mr T.



time for lunch !