12pm update - the big short

Whilst US equities attempt a natural rally/bounce into the afternoon, a rather appropriate new movie trailer has appeared... 'the big short'. No doubt it will remind some that corporate corruption is indeed rife... and there is indeed a valid time to short the American.. and greater world economy.


sp'15min

sp'60min

Summary

So.. market is battling it out.. having broken and decisively confirmed that the big bear flag from sp'1867/2020.. is complete.

Many are (somewhat) understandably calling for renewed upside from current levels.. but I would merely argue they are in denial about the importance of the initial breakdown in August.

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... as for the movie...



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VIX update from Mr T.




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*I remain on standby to initiate a number of short positions this afternoon, if price action looks okay.
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time for tea....


12.10pm.. sp'1939... minor up wave.. underway.... with a short term floor of 1932.

Best guess.. 1945/50...  before rolling over into the close.


12.16pm.. Maybe we'll max out around 1.15/30pm.... with sp'1950....

I have multiple targets locked and ready to launch.. based on the bigger weekly/monthly cycles.. both offering sub 1900' within the immediate term.