Rough day for the bears, we are a mere 13pts from the recent high of 1378
SP'60 min cycle
The close above the 10MA is a real problem.
VIX 60min - a slightly higher low (small consolation)
Bears getting whacked..again
Tuesdays significant decline is now entirely wiped away. If the market decides the jobs numbers are good tomorrow morning, and that the Greeks are 'saved', then we could easily jump to new highs, and that completely throws everything into scary new territory.
The only thing that could allow bears to justifiably get confident, is a move below 1340 within the next few days. Anything else, and the mainstream talk will swing right back to 1450/1550.
Right now, a move below <1340 looks a long way down, almost out of reach.
More later..probably.
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