10am update - opening reversal

US indexes open lower, but the VIX has started the day with a very clear black-fail candle, warning of an equity rebound that might last 2-4 hrs. Regardless of any bounce, nothing has changed..the key thresholds were broken, and we're set for the sp'1770s.


sp'60min

vix'60min

Summary

*I EXITED both VIX-long positions in the opening 5 minutes, kicked from VIX 16.70s
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So....how high? Right now, maybe 1835/40.. by early afternoon, with VIX 15.50/25.

From how I see it, every bounce should be considered a gift.
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So..now I wait. If we bounce..I'll pick up a SPY put block later..along with a new VIX-long block.


10.05am.. in my view... best bounce upside is the declining 10EMA..currently 1841.


10.10am.. market likely building a choppy floor..bears getting a second chance to exit

10.20am... STILL expecting a bounce...price action looks tired on the downside.


10.25am.. market WANTS to rally here...

15min...

Yes, its time for another yellow box