The market is looking tired, hovering at broadly the same levels as last Monday, and once again we're due 'some level' of down cycle. The first target would be last Wednesdays low of sp'1398. That is a mere 1.5% lower, so..its easily achievable within a single day.
It remains..dull, but..as we're seeing, there IS weakness out there.
The question is..who thinks we're going to be trading in the sp'1430s any time soon?
..in that case...we go down.
UPDATE 3.30pm VIX melting slowly lower into the close. Bears will need ot take out the 17.50s later this week.
back after the close