Closing Brief - the week ends WEAK

A pretty bearish closing hour (the bears seem very good at doing that lately), lets take just a quick look at how the hourly cycle charts closed.

SP'60min

Suffice to say, the blue count should probably be discarded now. Unless we can somehow gap up strongly on Monday (for whatever excuse), the bulls are again in real trouble. If blue'3 is in fact the top of minor'2 UP, then we're now in the early part of 3' down, which would probably take us to 1340.



VIX'60min

VIX punched back higher in the late afternoon. VIX is now primed for further gains on Monday, either that, or its a huge trap for the bears.

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More later..on the daily cycles