sp'daily5
Summary
A somewhat tiresome day.. even though I didn't hit any buttons.
*last Friday's target of sp'1930s with 15s was a viable target for today, but hell, it is overly risky to be on the short side..and as noted at the time, I sure wasn't going to attempt any such trade.
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Meanwhile...outside..its rainbows in London city.... as the sunset is near.
...still awaiting a unicorn.
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3.05pm... so.. what now?
Well, daily trends are offering a few more days higher, whilst the more important weekly cycles are back to outright bullish - offering 3-5 weeks higher.
Monthly cycle remain bullish of course...with notable weakness in the Dow/R2K.
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It remains amusing to see so many get overly wrapped up in the minor noise. All that time and effort....completely wasted on such minor moves.
3.30pm... baby bull flag on the smaller 5/15min cycles.. although yes.. the hourly cycle is rolling over.
As is almost always the case... overly risky to attempt to trade the smaller down waves.
Airlines continue to build gains.. UAL +3.5%
3.47pm.. VIX in melt mode.. 11/10s likely... but more on that after the close.