sp'60min
VIX'15min
Summary
*I remain on the sidelines, and I ain't chasing on the long side from these levels.
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VIX price structure is a pretty clear bear flag, but the MACD cycle is already pretty low.
Right now...
can't go long...
..and most certainly.. ZERO inclination to short whilst the bigger weekly/monthly cycles are outright bullish.
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Notable strength: Airlines, DAL +2.5%, UAL +2.0%
Yours....trying to be patient.
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11.01am. Market at first resistance, hourly 10MA.. .sp'1970.
11.06am.. typical turn time ..11am....equity bulls getting a valid chance to exit/tighten stops...
high chance of a reversal here....
Eyes on the VIX !
11.40am.. Equity bears fail to show up...
Indexes breaking up and out of the down trend....