With a series of negative stories piling up, the market is under increasing pressure. The repeated failure to clear the 50 day MA is posing a real problem for the bull maniacs, and with the break <sp'1610, the daily equity/VIX trends are starting to turn.
So....with the failure to keep pushing higher, the bulls are surprisingly already in danger of losing the big sp'1600 level.
I don't expect a daily close <1600, but it sure now looks viable early tomorrow, although there is that huge QE-pomo to be cautious about.
Oil..almost breaking $100...bullish economy?
3.24pm Queen cheerleader on clown TV '..we're off the lows'.
3.34pm.. sp'1608...hmm, a shame we're not getting a close <1600, but an overnight futures gap down will easily do it.
1590s should offer 1570s by Friday, but that really is 'best bear case'.