VIX'60min
sp'60min1c
Summary
So..minor chop to start the day, and the bull maniacs are pushing to turn things around.
However, yesterday's break <1850 was significant - the damage HAS been done, and we will surely at least resume a fall to 1834 at some point, whether later today..or early Monday.
--
As ever, the question is... who wants to go long into the weekend?
...thats right...I didn't think so.
-
*keep in mind the key threshold for a bearish (weekly cycle) warning is ANY close <1863..which frankly. does seem very likely.
--
10.08am.. first resistance is the hourly 10MA.. around 1855/57....
by 11am..high probability of a roll over..to the low 1830s by late day. Bulls...beware!
10.22am.. sure is tempting to short this market in the 1855/57 zone..if we're there by 11am.