VIX is a touch lower, and could close significantly higher.
sp'15min, rainbow
VIX'60min
Transports, daily
Summary
I think the tranny is an interesting sign of underlying weakness, it is set to go negative MACD cycle by Friday morning, and I think that bodes badly for the Dow. We could be <13,000 within hours.
*weekly charts continue to warn that sp'1325 is viable..if 1397 is tested..and fails to hold. Other indexes already suggest it can't hold.
I remain short, seeking my next exit @ 1400/1395, with VIX 20/21.
Time for lunch...back at 2pm