US indexes have given an intraday micro double floor in the low sp'1840s. A further wave higher seems likely this afternoon. Right now. best case upside for the bull maniacs appears to be the 1860/65 zone.. but that won't be easy. VIX remains low...and that makes those index puts that bit cheaper.
Well, lets see how high we can push into the typical turn time of 2.30pm.
Right now, a break above the earlier bounce peak of 1855..looks viable..which should open up another 5-10pts...
From there though...I think that is a valid re-short zone..with initial downside back to 1840/35....
ANY break <1835..and in theory..it should be 'free money' for the bears to 1800/1790.
1.09pm.. no one notice...my fib retrace was upside down..
The correct version...
1.22pm...on track....cycle peak in 70mins...
1.36pm... market struggling again...1849...hmm
1.42pm.. this patience thing..this can be...difficult.
Come on you bull maniacs..keep on buying...until 1858/62 please!