2pm update - near term down trend

US equities remain within a near term downward trend. With the sp'2100 threshold having failed to hold, renewed weakness into the weekly close looks due. VIX is reflecting some increasing market concern, having made a new cycle high of 14.91.


sp'60min

vix'60min

Summary

Suffice to say... more chop chop... with 2100 having failed... bears are currently in control.

Based on trend/channel... a weekly close in the sp'2092/90 zone looks viable.. with VIX 15s.

I do NOT expect the Greeks to agree on anything this weekend. More likely, they'll do arrange something Monday night/Tuesday.
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