sp'daily5
VIX'daily3
Summary
*Yesterdays spike floor/reversal on the VIX of 10.88 is being confirmed with strong upside today. A close in the 14/15s looks probable.
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Whether you want to count the current price action as some kind of sub'3 wave lower... what is clear, price momentum on the bigger daily/weekly.. and more importantly.. monthly cycles are turning more to the bears with each and every day.
Regardless of any minor bounce this afternoon.. or even an opening Friday gain, I am seeking the sp'2050/40s.. along with VIX 16/17s late tomorrow... or Monday.
Either way.. I am very content with things.
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back at 2pm