US equities break a new intra peak of sp'1935... as equity bears have been ground out from an early low of 1893. VIX remains subdued in the 22/21s.... but the micro 5/15/60min cycles are all set for upside across next Mon-Tuesday.
Q. Price structure on the VIX, a big bull flag.. with a corresponding big bear flag on the sp'60min cycle?
If yes.. then it'd bode not just for sp'1867.. but at least 1850.. if not the Oct'2014 low of 1820.
With the R2K (following the Dow/Trans in August) seemingly headed for the Oct'2014 low of 1040... the sp'500 could yet hit 1820 before first opportunity of a multi-week up cycle.
Anyway.. its just a scenario to consider.
notable weakness (despite the indexes)...
I remain short- DIS... and considering the VIX and overall price structure, I will hold short into next week. First target are the $97s.