12pm update - equity bears should be delighted

With the sp'500 breaking into the 1750s already this week, equity bears should be extremely pleased, and looking forwards to the rest of the week. The door is now wide open to the downside target zone of 1710/1690 - where the 200 day MA..and the lower weekly bollinger are lurking.


sp'daily5

sp'weekly7b

Summary

*VIX is still kinda stuck in the 19/20 resistance zone. A daily close >22, would be a break of the 2013 high, and open up 25/27 within 5-7 trading days.
--


What a great morning to start the week, yes?

We have a market that is broken, and all those bear flags on the daily cycles that I was babbling on about last week..have been confirmed.

Now it would seem..its just a matter of when we'll hit the 1710/1690 zone....not if.

I wonder what Yellen (who is being sworn in today) is thinking? Will she hit the print key at the next FOMC? Problem with that strategy, it'd send a clear signal to the market/mainstream...'the fed is boxed in..and can't escape'.

-
VIX update from Mr T



time for tea :)
-

12.04pm.. key support on the Dow monthly cycle....BUSTED.

Its over for the bulls..probably for some months. Confirmation (in my view)..if lower weekly bol' hit..currently 1689...and 1700 next week.