3pm update - daily cycle reversal

The minor declines are now largely reversed, and we're already seeing both the Transports and the Rus'2000 small cap show significant moves back to the upside.

The VIX could easily close a touch red, and that bodes very badly for the bears tomorrow, and perhaps the rest of this week.


sp'daily5

vix'daily

Summary

I've A LOT of good charts to highlight later, today was kinda important, and so far, its going as expected. We seem set to get 2 or 3 days higher, the only issue is whether we can take out the previous 1426 peak, right now..that seems more likely than not.

More after the close

1pm update - crawling higher

Floor looks to be in, looking for 1410/15 tomorrow.

sp'60min

Summary

Nothing smells good right now, daily cycle is low, even best bear case is only 1385/90, and might already be floored.

VIX is clearly overbought, and a pullback to the 16s looks viable.

*notable stock movers, NFLX, FB, and BTU. Those coal miners sure could fall a long way yet.
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back at 3pm

12pm update - battling it out

With near zero volume, it just appears this minor drop is just that..minor, and it won't last.

sp'60min

Summary

Its a bit of a mess, and I'm pretty sure than of the doomer bears looking for much bigger drops in the next few days are going to be real disappointed, if not worse.

The VIX is slipping back, I'd feel much more confident re-shorting with VIX in the 16s later this week.

Time for lunch