We are already low on the hourly cycle, so its a VERY bad place to be adding new short positions. Yet the daily cycle is now rolling over, and suggestive of a multi-day move lower, perhaps a challenge of the lower channel of 1330s.
sp'60min
sp' daily5
Vix'60min
Summary
Its tempting to add to new short positions, but not with the hourly cycles as they presently are.
Even worse for the bears, VIX is barely green, +3/4%, Bears should have been looking for +10/15% at the open.
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We could even see the indexes close green, that's how nasty today could close for the bears.