US equities remain moderately higher, but clearly, the bulls are struggling just to get near the old broken support of sp'1978. The nano 5/15min cycles are still offering a classic back test.. but perhaps that will take until the mid afternoon.
So.... its kinda quiet out there....
All those who respect the technical damage done yesterday, should be treating this mornings bounce...as just that...... a bounce.
*I remain seeking to short the market, I sure would prefer a short from 1978/80...rather than chase it lower below yesterdays close of 1965.
11.04am.. I think we're getting pretty close...maybe just 10/15mins away.
11.33am.. the chop continues
No selling pressure like yesterday.. but neither are the bulls able to muster much. Looks like we'll battle slowly higher into mid afternoon.
VIX -1% in the 15.40s... I'd really prefer an index short from the 15.00/14.80 zone... at current rate, that is good two hours away.