11am update - building a floor

US equities have seen a morning floor of sp'1925 - with VIX having maxed at the open @ 31.95. A natural retrace of last weeks three day hyper ramp of 126pts has likely been completed. It would seem just a matter of time for when we'll break to new bounce highs (>1993).. which is possible before the Friday close.


sp'60min

VIX'15min

Summary

*VIX has been unable to break the opening high... and both the 15/60min cycles are both on the high cycle. A daily close in the 27/26s look possible.
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So...  a fair bit of price chop..  and all things considered, we've probably see the retrace play out as expected.

I would only be surprised on any break under the 1900 threshold.. and frankly.. that seems highly unlikely.

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Yours truly is once again Long-AAPL, from the $110s. Seeking the 115s.

time to cook... back at 12pm