A bad day for the bulls, with a VERY important close below yesterdays closing hour spike. The VIX confirmed the significant declines.
IWM'60min
Dow'60min
Sp'60min
Transports
Summary
A good day in bear land, with a particularly weak close.
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I am short, seeking 1400/1395 tomorrow..or no later than Thur/Friday.
A close below the recent cycle low of sp'1397 would open a mini-collapse door, as low as sp'1325 within 3-5 trading days, with the VIX at least 24/26.
More later.