sp'daily5b
VIX'daily3
Summary
Naturally, I am already looking ahead, not just to next week, but even a few months beyond that.
The market has now battled upward by a very impressive 116pts (5.8%) since last Wednesday's low.
Clearly, we're over half way there in terms of a bounce/counter rally.
Indeed, now we're just 1% from lower end of the target re-short range of 1945/70s.
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Right now. I remain highly inclined to scenario'2. If that is the case.. we'll hit 1940s next week.. a minor retrace to 1920/10s..and then up again.
Yellen is speaking Feb' 10th and 11th. Either of those days would make for an interesting top on the daily/weekly cycle.
yours... refining.