So we're still not decisively below the 1330 level I've been mentioning, but we are real close this time. It looks like the bulls are going to fail to hold things together.
Jobless claims: 350k vs 376k (previous) , something of a significant improvement!
sp'60min
I suppose from the 60min chart you could say the floor is 1325, but the daily chart is tighter, and anything under 1330 violates the broader up trend since the June 1266 low.
sp'daily5
Summary
An interesting day ahead. A close in the sp'1320s would be very bearish for next week. Without question it'd be suggestive of a move <1300, and opens the door to breaking a new low of <1266.
My plan today? Well, lets see how the first few hours shake out, I might re-short at the top of the next 15min cycle, probably after 2pm. I also have my eyes on JPM.
More across the day.