US equities continue to unravel, with the sp'500 breaking below the Oct'2014 low of 1820, triggering another truck load of long-stops. There is rather easy downside to the 1780/70s, which would equate to the Dow 15100/000 zone. VIX is confirming the mainstream upset, +22% in the 32s.
To be clear...
The bigger weekly/monthly cycles are highly suggestive we will see short term capitulation in the sp'1750/25 zone.. specifically 1730.
The Dow has clear support around 15100/000... and that would equate to 1780/70 or so.
So.. another 2% to go.. minimum...
The 1750/25 zone looks viable tomorrow... and that would make for a more natural short term low.
**ironically, even a multi-week rally to 1950/2000 zone in March/April, would STILL offer another wave lower to the 1600/1500s in April/May.
stay tuned.... and say HELLO !
1.32pm.. maybe its just me, but DISQUS message system is having issues. Overloaded by the hundreds of thousands of comments across hundreds of sites?
sp -51pts @ 1829... so... 4.5% away from target zone.