3pm update - max annoyance

This remains a market that is not so much about max pain.. as max annoyance. A micro cycle has taken the sp'500 fractionally positive, and taken the edge off the momo stocks' declines. Barring a break >1995... the immediate trend remains 'weak'.


sp'60min

Summary

Well, today has been messy....

However, bears did manage another lower low...with the VIX in the 14s.

I'm still seeking the sp'1973/70 zone..with VIX 15s... before a key turn ..back upward.
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Perhaps more than anything, equity bears should be seeking a VIX daily close in the 14s.
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3.36pm.. Price action remains 'weak chop'. Certainly, no clear floor yet...not least in the momo stocks or the R2K.

Regardless..still waiting.