3pm update - closing hour upside

The smaller 5/15min index cycles are prone to breaking to the upside into the close, and a daily close in the low sp'1840s remains viable. Gold and Oil are both weak, lower by -0.7% and -1.5% respectively. VIX continues to reflect a market that has little concern about anything for some weeks to come.


sp'60min

Summary

The situation is very much like yesterday. Bears again showed how weak they are, with the early
morning drop to 1831..only to be swiftly flipped to 1840.

Next issue for the market will be the Friday jobs data, and with sig' QE, even if the market doesn't particularly like the number, what sell side there is..will be greatly negated.

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Arguably, stock of the day is UAL, +5.9%...now in the $41s, only another $7 to go
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3.03pm.. VIX looks set to slip fractionally red into the close.


3.25pm...well, hopes of the 1840s can be just about thrown out. Issue now..does 1831 hold.

no doubt, some will be screaming for the 1750s again this evening.


3.33pm..5min cycle offering a floor @ 1832.   Buy the dip? ;0

3.48pm.. nasty market...doing a short-stop run...back to 1836....surely not the 1840s at the close? 

3.54pm.. 15min cycle set to go + cycle at the Thursday open...bears beware!