The Friday high of sp'2114 is fading away, and with technical breaks all over the place, a target of sp'2060 by the Friday close is valid.. and that should equate to VIX 16/17s. With the USD +0.1% in the DXY 97.40s, commodities remain under pressure, Gold -$8, whilst Oil is -3.6% in the $45s.
Clearly, we're set to close lower for the second consecutive day, now its a case of how low can the current cycle go.
Dow 17K remains an obvious target.. and that would equate to sp'500 somewhere in the 2050/25 zone.
Considering the current 5/15min cycles, renewed weakness into the close looks due.
3.35pm.. sp'2090.. with VIX 13s... a little tiresome.. but anyway... day'2 down... the week has started fine for the bears.
back at the close.