10am update - moderate declines, set to build

Good morning. The daily and weekly cycles are all primed to see some sort of significant snap lower this week. Primary target is sp'1420, that is a mere 2% lower, and is not exactly asking much, is it?


sp'daily5

vix'daily

Summary

It should be a fair week for the bears,

As noted though many times, for the doomers out there, only if we break the previous main cycle low of 1397 can anything major be considered.

For the moment, lets see if we can close today <1450.

I remain short, and seeking a 1420 exit.

*amusing to see the mighty Barrons start touting FB as a $15 stock. Didn't I say that at the IPO? Of course, its really only worth a few dollars.

More across the day.