3pm update - critical closing hour

With the lousy GOOG earnings, Mr Market is seeing the 3 day rally come to an end. If the high is in for this cycle, then some very exciting days could be ahead. First critical level is the Monday low of sp'1427.

VIX is slightly higher, but considering GOOG, its still lagging.


sp'60min

sp'daily5

Summary

Things will indeed get very interesting if we can take out the 1427 low. That seems out of range tomorrow, so I'd really only look for that next week.

As noted a few hours ago, bears should seek a close <1450. That would be a major victory for the bears.

Much more after the close.