sp'60min
Summary
The smaller 5/15min cycles are suggestive of further strength..rather than downside in the closing hour.
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Regardless of the exact close...bulls clearly start the week pretty strong, although I'd agree there really isn't any real buying going on.
..and if it is just a bounce..it is a pretty good one to be shorting, although I'll still waiting until the FOMC announcement is out the way.
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3.12pm... sp'1860...and it will be interesting to see how many bears capitulate across the next few days.
GDX -2.7%..more on that one after the close..on my 'fair value' page.
3.25pm... so.. a possible close in the 1860s..with VIX 15s. Frankly, the bulls are getting a real opportunity to exit here, before market carnage.
Despite not currently hysterical about the Ukraine, I do consider it a VERY serious issue, and there remains high risk of the situation spiraling.
VIX opex is at the Tue' open...14s look very likely.