12pm update - stuck under resistance

For the moment at least.. despite very significant gains from the Thursday morning low of sp'1926, the equity bulls have still not broken key resistance. For the bears, the line at the Friday close will be around 1968/66.


sp'60min

Summary

Suffice to say, the gains remain a major problem for those on the short side... and ANY daily close in the 1970s.. whether today..or next week.. will break the down trend.

Still 4 hrs for the bears to show up...and maybe some of the rats will sell into the weekend.

Right now, I'd settle for any daily close in the 1955/50 zone, but that probably sounds overly optimistic right now.
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VIX update from Mr T.


--
time for lunch



12.17pm.. sp'1964... a mere 0.25% from breaking key resistance.

VIX showing no sign of a turn, -9% in the 14.60s.