Equities remain stuck just under a key resistance zone of sp'1875/83. The hourly equity/VIX cycles are more than due for a clear turn - in favour of the equity bears, yet today and tomorrow, there is the old problem of QE-pomo.
*I suppose the bears at least did get an opening reversal candle..and more often than not..they do mark at least a short term floor.
Were it not for the QE fuel.. I'd be moderately looking for a daily close in the sp'1860/55 zone, with VIX 15s.....but we do have the QE....urghhhhh
For those needing entertainment..go check KING.
..or PLUG .....+52% yesterday,.... today -16%.
I can't stand those damn hysteria stocks..but they sure are fun to watch.
UPDATE 10.56am.... We have the two leaders - Trans/R2K, both on the slide -0.4%.
11.30am... upper hourly bollinger.. 1875..should at least hold the bulls there..but even then..a daily close in the 1870s is no good for bears.
Its getting tiresome again...need a daily close <1860.