sp'15min
Summary
*I'd like to give the market 5-15 mins to churn around a bit....and see if we break >1862/63.. a level which many are watching.
--
VIX looks close to being floored...
60min
A brief drop to 14.10/00..and then a turn?
--
2.01pm.. micro spike....still <1863....... hmmmmm
2.07pm.. bears getting short-stopped.. no doubt.
I like the setup..right now.. especially the VIX.
...standing by....
2.11pm.. we're in the target zone of 1865......... eyes on the 5min cycle...
2.13pm.. SHORT from sp'1865
2.16pm.. LONG VIX.. .from 13.90s.
I'm done...will now sit back..hold overnight..and see how we trade tomorrow and Friday.
Initial downside target is 1830/20 zone.
2.28pm...we're now at the typical turn time of the day. Bull maniacs have had a good run from 1837 to 1869.
No doubt, this Fed spike is REALLY rattling many, not least those who have been holding short since the break of the 50 day MA .
*for a break of the current wave...bears need a daily close/Thursday open <1862.
2.41pm.. We're surely going to get stuck in this 1865/75 zone. Micro cycles all look burnt....
A daily close <1862..is the target... won't be easy...I'd settle for 1864 right now!