1pm update - equity bears struggling

Despite a clear degree of weakness so far today, the equity bears are still not displaying the downside power that would be necessary to break the next support zone of sp'1850/45. Hourly index cycles are again offering a floor, and for the bears, this might be as good as it gets this week.


sp'60min

Summary

*exited a short silver position just earlier. Might get back with that this Wednesday.
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Frankly, the price action just looks a choppy mess, but for the bears...that IS a major problem.

Is a 'choppy mess', the best the bears can do? It would seem so. It is now just a matter of when the bulls can launch another up wave.
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Notable weakness in OPEN

A lousy daily and weekly outlook for those long OPEN.
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1.03pm...sp'1860... getting kinda close to gap/support...along with VIX 15s.


1.10pm.. VIX gap zone..that is the one to focus on... 15.20/60 zone...we'll likely get stuck there.


1.18pm.. VIX 15s...getting real close now..along with sp'1850/45.


1.26pm...almost there...in both zones..

Keeping mind a typical turn time is 2.30pm...bears will probably max out within next 60mins.


1.34pm.. LONG DO (Diamond offshore), from equiv' of sp'1851.

Anyone notice the Dow, just -45pts.. a mere 0.3%.
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VIX at the gap zone of 15.20s... high risk of the bears getting stuck here.