3pm update - a close under 1450 ?

Here we go again, seeking a close under 1450. The one thing the bears do have on their side - the MACD cycle, which is due to go negative in the next 3-6 trading hours for most indexes.

Sp'1440 seems viable later this week - although I said the same thing last week, urghh.


sp'60min

sp'daily5

Summary

So, low volume 'battling it out'. Considering the bulls rallied at the open..and failed, I'm inclined to believe they had their chance, and a close under 1450 is viable.

If that's the case, 1440 will likely be hit tomorrow, the only then is whether that can hold.

Sp'1420 and VIX 17/18 by the Friday close -as the low of this cycle?

VIX remains a little higher, +3%, but we're still only in the mid 14s. Even a move to 16 would still be a historically low level.

I remain short, seeking an exit later this week.

Back after the close.