sp'60min
Summary
..thank the gods...its the weekend!
This mornings reversal was a pleasant surprise, and congrats to anyone who had the audacity to short the opening gains. The two spiky candles were a particularly great example of why candle type can be a useful warning.
I guess I could have chased the market lower from the 1890/85 level, but really, I just wasn't in the mood to hit buttons today.
As things are, I will look to go long the indexes next Mon/Tuesday, with a stop in the sp'1850s. For me, the lack of upside power in the VIX remains a long standing problem for the bears.
Have a good weekend everyone.
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*the weekend post will be on the World Monthly Indexes