Secondary channel is in play and move the market in a smoother manner to the upside (first channel's slope had a sharp upside bias). This channel can hold for longer period and become more supportive of the market.
Don't shout at me for treating VIX as a stock. This is just a chart read.
Market started weak but reversed (partially on Greece deal and probably because of option expiration). Watch the market closely to add more short position and Vol derivatives e.g. VXX. Volume is dropping and a good chance that the market upside move continues for a while (Remember the last summer!) AND "Don't think the market should act in a way that you want,...
SPY is consolidating and patience is the key. "End of the day buyers" became weaker (they didn't take out the red candle). Let's see what tomorrow brings!
SPY will hold the uptrend channel (probably). It has been defended several times and it is a perfect gauge to see when the market will change the trend.
IWM was leading the gain today and by the end of the day it has been sold sharply and fade the rally faster than the rest of the market. That is changing the market character (or topping tail). Wait till tomorrow to confirm the end of the day sellers are back in the game.
Gold is getting close to a major resistance (A trend line which hold before). Wait till bottoming signs emerge and then get involved.
E-Mini signals for downside move in bigger time frame. Less people participates and more on a sideline.
SPY is ripe and time for fruit picking. Long weekends are tough short. Started a small short position and step by step by end of each day (literally last 5 minutes before close) I will add more shorts.
Gilead is infected by HEP C gold fever and may slip to 200 MA. Wait till it hit the safety net and backed up by institutions.
Wait next week for Gold to reach 1200 level and buy shinny metal for a rebound.
SPY were flushed in final 2 hours of trading day. Today, it caught a bit in the very same period. Tomorrow will shine more light if the market wobble is over or not.