sp'60min
vix'60min
Summary
For me, the tell will be the VIX, where bears should be seeking the 15s, if not a daily close in the 16s..tomorrow..or Monday. That will open up a washout equity down wave..with VIX high teens/low 20s.
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Despite the morning weakness, the hourly cycles will not likely see a provisional turn until late today.
For those on the short side....patience.
11.10am... fun huh?
11.16am... At current rate..we'll see the first clear turn on the hourly charts around 2-3pm.
This is morning is somewhat entertaining, but I'm looking much lower than this.
11.34am... EXITED SPY short-block...at sp'1857...
will re-short in a few hours..on any 5-10pt 'stupid bounce'
11.36am... will hold VIX-long..regardless.
There is 'moderate chance' of a stupid bounce.. as high as 1867/70...making more of a choppy top, with much stronger downside Fri/Monday.
I am pleased with how things are looking...
yours..waiting to pick up that SPY put block again, ;)