11am update - rainbows, but no unicorns

The US equity indexes opened moderately higher, but the gains have indeed evaporated. Hourly index/VIX cycles are highly suggestive we're now in the early stage of a minor retracement. Primary downside target zone is sp'1800/1780 by late Friday.

The storm front passes through London city

sp'60min

Summary

So..we have an 89pt ramp from 1737 to 1826..and now we're on the slide.

With no sig' QE-pomo until next Tuesday, bears have a window of opportunity, if only for a minor retracement of 2% or so.

notable movers: AMZN -3.8%, whilst TWTR +5.0%

*if I see any unicorns before sundown, I'll be sure to take another picture.


11.23am.. bulls battling to hold things together, but hourly cycles support the bears..into the afternoon.

First downside target..the 50 day MA..of 1809.