Closing Brief

A hyper ramp into the close...great. That's just great. I should probably turn my screen off...for good. This is really getting too annoying, and the VIX remains low. If I'm getting smashed around whilst VIX is a mere 24, this is not going to end well trading whilst VIX is 40/50 in the distant months ahead.

I feel like I've spent the last three days in a washing machine on 1400rpm. Is there a dry cycle next?


IWM, 60min

Dow'60min

Sp'60min

Summary

The question now is...what that the fifth wave lower? There have been plenty of occasions when the fifth puts in a marginally higher low, before blasting off on a multi-day rally.

The hourly cycles did close just within the down channels. We are also still below the daily 10MA - and within the broader down channel. Yet...this is day'16..at some point we are going to explode higher, more likely on a gap up..after a long weekend.

Horrible day.

As for me...I'm effectively nuked. Its probably time to get back into that washing machine again.