3pm update - a day for the bears

Regardless of the closing hour price action, today has been a day for the equity bears. There have been so many technical breaks... more notably on the bigger weekly and monthly cycles. Interesting days are ahead.


sp'15min

Summary

There remains chance of a bounce into the mid 1980s...although I realise some are seeking a more conservative back test of the broken neck line of 1978.
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15min MACD cycle is now positive, and could easily rally into the close, but the mid 1980s look 'best case.

For me, a VIX weekly close >17.50 would be a massive sign that sp'2019.. the 'Alibaba top' was indeed a key market peak.

So....its the closing hour.. lets see how far the bulls can push. Certainly, some bearish day-traders will be closing out, and that will help to push prices back upward.
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3.35pm  Still a viable bounce to back test the broken sp'1978 floor... which seems not viable until early tomorrow.

back at the close............