US equities remain broadly weak... after what has been a rather weak bounce. The bigger weekly charts remain absolutely clear... the market was decisively broken in August.. and recent price action is not remotely like the V shaped recovery of Oct'2014. Sub sp'1900s.. and to 1820 looks highly probable... within days.
*I remain on standby to pick up a VIX-long and possibly also SPY-short block.. this hour.
Note the nano-bear flag in the VIX... 23s look due
I've eyes on the micro 15/5min cycles... prime time for a bounce peak will be around 2.30pm.
Yellen is due at 5pm EST.. but if sp'1925/30... I'm not particularly concerned.
Primary trend remains down.
2.17pm.. We're getting real close to maxing out... well, I think so anything.
sp'1921... VIX 23.93.
2.20pm.. sp'1923.... pushing the limit now... I will be surprised if we go much higher.
2.35pm.. LONG VIX from 23.40 SHORT-spy.. from sp'1927
I will hold overnight.