sp'60min
GLD, daily
Summary
*I was kicked from a core-short block earlier, have no plan to re-enter, regardless of near term action. Holding a secondary block..will get kicked if >1884.
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First, let me be clear, the notion of a 'triple top'..looks highly unlikely. Certainly, any daily close >1883, and that idea gets dropped.
Further, bears need to break <1870 to have ANY hope, along with VIX 15s, and that sure looks difficult in the near term. Hourly index/VIX cycles are due to turn, but ...that was the case yesterday afternoon, and we saw how that worked out.
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VIX update from Mr C.........or T.
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time for tea... (or should that be tranquilisers and wine?)
12.15pm.. Daily candle on the trans..turns black..... set to turn red this afternoon.
Again though..unless sp <1870...this is NOTHING for the bears to get excited about.
12.42pm.. market probably just teasing the bears.....back to the sp'1880s.
The only thing the bulls need is a new high in the Transports.. >7627,