sp'60min
Summary
Farewell to the hope of 1730s..and the 1600s are fading far below.
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For the equity bears, this remains a market to LEAVE ALONE. There is simply no point in getting involved on the short side. This mornings minor moderate decline of 0.5%..lasted for less than an hour..and then we saw a typical latter day recovery.
The fact we closed at a new historic high..along with the Dow 15800s, is mere added spite to the bears.
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Frankly, the notion of a 'significant' wave lower sometime in the remainder of this year is stupid. We ain't going <1700 for some months.
*I remain largely content on the sidelines, and have zero intention to be shorting the indexes until the spring.
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Updated hourly chart...
*I wanted to be clearer on what micro-count I am currently considering. Certainly..we ain't headed down..and the recent action does indeed look like a simple ABC.
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more later...on the VIX