sp'60min
Summary
As ever..the fed often makes a mess of the market..and we're seeing some moderate downside.
The price action though..just doesn't look that bearish.
Baring a break under sp'1775, I can't take this afternoons little wave lower seriously.
I'm calling this decline....
a fake!
-
*I am content on the sidelines..having dropped SLV-short...now almost 20 cents lower...urghhh
-
3.08pm Hmm, there goes sp'1780....5pts left for the equity bulls...then it becomes a problem.
3.12pm.. VIX +2%.
Hey..equity bears...what does the VIX tell you?
*clown TV host getting overly excited about the Dow -90pts..... .what a fool!
3.19pm.. equity bulls should seek a close >1783...that'd make for a nice spike-floor.
Metals look floored..but hey..I thought that an hour ago.
3.25pm.. bears getting the first warning to 'get the hell out'.....
There can be NO EXCUSES.
Sig' ramp viable tomorrow..and into the weekend.
3.29pm.. another spike-top on the VIX hourly....bears getting another warning.
no... excuses!
-
3.38pm.. bulls should still aim for a close in the 1780s...pref. 1783.
VIX only +1%.... I think the VIX is telling the story.
3.43pm..spike-floor....forming....bears in dire trouble now.
3.54pm... market holding together.. vix suggesting 'nothing to worry about'.
back at the close !