3pm update - still minor chop

Its turned into something of a dull trading day. Early moderate declines, then flat..now fractional gains. The smaller cycles are resetting themselves, not least the 15min, which is now pretty high. The VIX is still holding onto moderate 4-5% gains.


sp'15min

sp'daily5

Summary

The 15min cycle has a clear bear flag, so long as we don't close >1420, bears shouldn't be getting stopped out.

Underlying price pressure should be downward, as seen on the weekly/monthly charts.

A close <1412, would be..useful.

more after the close