10am update - opening minor gains

US equities open a little higher, but the 15/60min cycles are offering an opening reversal. There is 'best bear case' downside to sp'1965/60... before renewed upside to challenge the historic high of 1991. Oil continues to slide, -0.2%


sp'60min

VIX'60min

Summary

*VIX is a more strong indicator right now...  two minor gaps...the 15s won't be easy to hit...not least if we only trade down to sp'1960.
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So...lets see if the bears can knock things lower from the opening high of sp'1976.

**I remain on the sidelines, would consider going LONG @ 1965/60
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Notable strength: DRYS +1.5% @ $3.30... continuing on its way to the $4 threshold.


10.22am.. so much for an opening reversal.. VIX failed.. and we're back to melt mode.

Oh well... no shorting this market... I think most can agree on that much.
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