sp'60min
Summary
A break >1887..and a daily close in the 1890s..today..or tomorrow will be the target.
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A note on the VIX
VIX remains bizarrely low. On any basis. I have to believe VIX will be comfortably trading in the mid/upper 20s this summer
So..I am most certainly wanting to pick up a VIX call block at some point. Yet...there seems little point in the immediate term...not least ahead of a 3 day weekend.
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Ohh..and here is the wiki for 'fedspeak'. See..it is a real word ;)
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2.03pm.. more nonsense...and the market looks stuck under 1885...
Metals slipping, Gold -$11...
2.05pm... market clawing higher..and day-trading bears are getting kicked out...
R2K making a play to take out the morning high, hmmm
2.11pm.. hourly candle turning red.....and it is a spiky one, peaking at sp'1887.
Bulls beware!
2.14pm.. Hourly MACD cycle rolling over....if we close this hour <1882....could fall 8-10pts in the closing hour..which would make for a very bearish daily candle.
I'd almost be tempted to pick up a short position...
2.28pm.. chop chop....1884...closing hour should at least be entertaining to watch.
Lots of data tomorrow..and for the bears...no QE to worry about until next Tuesday.