1pm update - baby bounce underway

We're seeing a very natural bounce from 1407, upside target this afternoon is 1420/22 A move over 1425 seems impossible after this mornings action.


sp'15min rainbow

Summary

Seeking a re-short in the 1420/22 range..perhaps this next hour.

Targeting a test of the 1397 low in the next day or two. If that fails to hold..then sp'1325 is viable within days.

back at 2pm, or whenever I start hitting buttons ;)

12pm update - market struggling

An attempt to break a new low in the past few minutes, but so far..the sp'1407 low is holding. There remains - just like yesterday showed, a strong potential for a latter day bounce, target would be 1417/22

VIX is warning of major index downside later this week, a daily close >20 now seems likely this week.


sp'15min rainbow

sp'daily5

Summary

Pretty damn good day for the bears, especially in option land where most puts are +50/75%

The 1397 cycle low remains a key objective, a break of that opens up a test of the 200 day MA @ 1373

I am seeking a re-short on any latter day bounce.

*back at 1pm

11am update - morning floor sp'1407 ?

Well, that was a pretty exciting past hour, with the sp' hitting 1407


sp'15min, rainbow

sp'weekly, rainbow

Summary

I closed out a little earlier, seeking a re-short later today around 1417/22.

Based on the weekly charts, primary target would be a hit of the lower bollinger @ 1325 within 1-3 weeks, if not 'days'.

VIX' has shown some good upside action, and bodes for a break above 20 later this week.

back at 12pm!