sp'daily5
Summary
Most of the daily charts look pretty ugly for this week, and there is a very viable break <1840.
--
I remain..watching. Hourly MACD cycle is deeply negative, and we're surely going to get some degree of bounce...
For the moment, I sure ain't going long....and I ain't going short.
Notable weakness: DRYS, -3%, I guess the BDI is lower again.
11.06am.. triple candle top on the VIX....
Hmmm The big down trend from March..looks to be over.
11.18am.. looking at the 15min cycle.. indexes look VERY prone to a snap higher within 15/30mins.
Bears...beware!
Right now, bounce upside looks to be around 1870.
11.27am.. still weak, but...a turn looks very probable.
VIX holding gains of 9%, but the 15s sure aren't anything to get excited about .
11.30am.. Price action still weak.....but I sure hope those on the short-side are tightening stops right now. Real risk of 1865/70 this afternoon.
15min cycle
Eyes on the MACD cycle..we're due to break higher.
11.35am.. turn...underway.. ..and I'm pretty sure about this.
VIX cooling...15.22...the 14s look due again.