The market has ZERO fear, there are no impulsive moves lower. Its just minor crawl lower, and the VIX is not confirming any of the index declines
sp' daily5
sp, weekly
Summary
We remain in a broad uptrend. Until we can break into the low 1320s, I can't take any decline seriously.
I suppose bears could claim the weekly charts are going to at least close the week 'bearish', but still, so long as the VIX remains flat...the bulls remain in control.
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More later in the day, I'm getting really tired of this nonsense.