sp'60min
Summary
So..a sixth day for the bull maniacs, and all those holding from last weeks low of 1815...some 64pts lower...urghhh.
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The recent retrace zone target of 1850/40s now looks out of range. At best, equity bears might see 1875/70 early Wednesday, before the next QE fuel kicks in.
As I noted at the weekend, the R2K/Nasdaq had very clear spike-floor weekly candles, and those bode for at least few weeks of upside, taking us into May.
Frankly, anyone trying to play micro down cycles is surely wasting their time. Primary trend is currently up!
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more later..on the crushed VIX