12pm update - battling it out

Its turning out be quite a fierce little battle today. The secondary target has been hit on my hourly chart, and I'm guessing thats 'probably' it for this cycle. Transports though is on the edge, a daily close <6200 would be a major problem. VIX is +6%, and looks increasingly tired.


sp'60min

vix'60min

Summary

The smaller 5/15min cycles again look floored, lets see what the bulls can do into the early afternoon.

What would actually shock me right now is if the VIX broke 20 this week.

Those 'doomer bears' out there seeking major downside, need Trans <6100 (to be decisive), and VIX 20s. That would be a clear warning of a multi-week trend change.
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VIX update coming...