US indexes have almost certainly seen the low of the day, and with an opening black candle on the VIX hourly cycle, equity bears should already have bailed. There remains distinct weakness in the R2K/Nasdaq, but even those look set to close today with net gains.
sp'60min
VIX'60min
Summary
*I remain long, seeking to exit in the R2K 1135/45 zone.
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A long day ahead, and really, I just don't see how anyone can be getting overly bearish, whilst the indexes are still regularly breaking new highs.
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back at 12pm
