sp'15min
Summary
*I am open to picking up a secondary SPY put block this morning, once the smaller 15min cycle maxes out. Typically, 11am would make for a reasonable time.
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Notable weakness in the metals.
GLD, daily
Starting to look kinda ugly, esp' on the bigger weekly charts.
10.04am... break of trend on the 15min...and we're headed down.
*I won't chase the market lower...I merely already sit on a core SDS block.
VIX 15.20s...16s is where things get interesting (that'd break the FOMC spike low - equiv' to sp'1850.
10.13am.. raised my SDS stop...just being cautious..since the weekly charts DID close positive last week.
Interesting failed opening gains....no one wants to buy the 1870s...at least yet.
10.25am.. Notable weakness, NFLX, -5%...I've no idea why, but the other momo stocks all weak too, FB, TWTR...in fact, is now in the $48s..a key break of support.
Game over for the momo stocks?
10.31am..market about to break rising trend.... door is open to 1845/35
10.35am.. clear BREAK of trend...we're going to the 1840s.. VIX +5%, set for the 16s.