Whilst equities are holding above the morning low, the VIX remains very close to the early peak of 16.00. A daily close in the 16s looks probable, which should equate to renewed equity weakness into the sp'2050s. Equity bears look good for Dow 17000, regardless of any 'Fed day' (Wednesday) and/or GDP (Thursday) bounce.
*A second outright bullish candle on the VIX 'rainbow' chart... the 17/18s look due tomorrow.
I would only add right now... a bounce.. if brief.. looks due this Wed/Thursday.
I will merely look to re-short ANY such bounce.. if there is one.
notable weakness: energy, SDRL, -4.2%
1.24pm.. New intra high on the VIX.. 16.01.... equities set to break new lows.. <2060 by the close.