12pm update - days of high....adventure!

There is a major smell of weakness in this market, and we could unravel significantly lower in the immediate term. The recent low of sp'1385 will be the first target, and that would be a very likely bounce zone for 10-15pts.. VIX showing strength...but $ still a touch lower.


Trans'60min

Sp'daily5

Summary

Everything is looking good, for sp'1380/70s within the next few days.

The  big question remains, can we take out the sp'1343 low. That...I can't answer.
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Days of high adventure.....indeed!



Time for lunch
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UPDATE 12.20, seeking an exit @ sp'1400, this hour. Will likely re-short into the close, if so.

UPDATe 12.40  Tranny target is neckline @5030. I guess that will hold..at least for a bit.

Market is a bit of a chop-fest still, but the direction IS clear.

For the moment, I'm holding short, might jump out if tranny 5030 though, and re-short near the close.