10:28 - Finally a VIX chart - I used to be Dr. VIX. I used to call almost every trade by the VIX but not these days. As mentioned often I believe it is not nearly as reliable an indicator as it used to be. Anyway, The wedge does no match the market but the count does. That green bar is where 5 would equal 1. There appear to be 5 waves completed in the 5th and the divergences are there for a pop.That is an Island gap at the 50% retrace and there is resistance in that hood as well. That would work nicely with my ABC call.
10:13 - SPX 30m - (not updated) Looks like the red support line has cracked. Now the two black lines from the overthrown mini wedge are in play as support. Indicators look really bad here, but we all know what they can do to those. Most notable is the TNX falling like a rock. Price should catch or at least follow that.
10:08 - SPX - not the best chart but you can see the gaps and support lines. If price can get thru 15 it will get to 10 then you go from 10 to 5 and from 5 to 00/97. That is asking a lot. A fib off the 97 lows has the retracements as 13.5, 10.5 and 7.5 roughly. That 10.5 lines up nicely with support, so let's see if we can get at least that today.
10:00 - Minis 15m Green support line near 09 is the first key. the gap support at 08 is the second key. If we can get into or near there, then we can address further action, but I will not put the cart ahead of the horse just yet.
12:35 - Minis actually down? I don't care if it is less than a point. Wedge and 4hr indicators should say it all.
See you in the morning.
