sp'15min
vix'15min
Summary
*I will certainly wish to be heavy short by the end of today. For now though... I don't see a hurry.. not least as the 1900 threshold remains a very natural level to test today.
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So, minor chop to start the day... all things considered, a bounce STILL looks due. Right now.. that looks likely to take us into the afternoon, rather than max out by 11am.
For now then.. I am content to wait until at least 1pm.
--
time for an early lunch... back soon
10.14am.. BACK :)
So.. we've already hit 1892... not far off target zone.
The issue is time.. 11am.. or does this drag out into the afternoon?
I'd guess... 1/2pm.... but... if we're 1900/1905 by 11am.. I'll be sorely tempted.
10.18am.. short-stop cascade underway.. bears on the run.... sp'1894. VIX holding up rather well @ 26.66
10.28am.. Considering we broke a new cycle low at the open... the clock for a bounce was reset... I don't see a bounce being completed within 90mins... 11am.
So... I am HIGHLY inclined to wait.
Best guess... first wave completes around 11am... minor retrace to 12pm... secondary UP to 2pm
From there... DOWN.
10.31am... something like this.......
:)