Without getting lost in the day to day noise, the bigger weekly cycles are indeed showing some interesting trend changes.
Even the VIX is starting to flash an initial warning of trouble for the September-October period.
I think the above two charts pretty much summarise where we are at. The VIX is showing a provisional breakout, but we need a close in the 18s tomorrow to solidify it.
The master index is rolling over, but bears must not get confident until we break <7800. That sure won't happen tomorrow, and it should be the target for the first half of September.
An interesting day, and its something of a relief to see some price movement!
back at 2pm.