A moderately lower day across most indexes, with the VIX putting in a moderately higher close. In the scheme of things, its nothing 'significant' yet, but the potential is there for some exciting down moves both tomorrow and into next week. Perhaps the ultimate question is what the algo-bots will do tomorrow morning if the jobs data comes in under 100k. Whilst many of the European indexes (not least Spain) have already been in what continues to be a major collapse wave, the US market has not had a decent down day in over 7 months. Maybe tomorrow.
IWM, daily
SP, daily
Transport, daily, rainbow (Elder impulse)
VIX, daily, rainbow
Summary
The daily charts are clear, there is great potential for a significant down wave in the coming days. From a cycle perspective, everything is just starting to rollover. The big money will now have short stops around 1395/1400 tight..or 1415/22 lose.
More later in the evening...(probably).
