sp'60min
Summary
*closing hour action: mostly micro chop, but with a new intra high of 2094... 1.2% above the morning low.
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... and another wacky ride in the casino comes to a close.
I do understand why some will be utterly bemused at this mornings turn around. After all, what was the good news?
Mostly.. it was cyclical, as the smaller 5/15/60min equity cycles were on the very low side. 2070 was the 50% retrace of the recent wave from 2045/97.
This market is headed higher.... although maybe there is no way of knowing where the market is rowing?
The danger must be growing.. for the algo-bots keep on buying....
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more later... on the VIX