3pm update - closing hour depression?

Mr Market is in a bad mood. Its slipped considerably away from the sp'1438 peak. With the VIX and Mr $ rising, the downward pressure on the main market is likely to continue into tomorrow. Taking out the recent 1398 low will be the first warning of 'serious trouble'.


sp'daily5

sp'weekly

Summary

We're seeing a nice failure/topping spike on the weekly charts.

The daily charts are all starting to show breaks on the ascending channel.

Baring some stupid bounce into the close, today has gone VERY well for the bears.
--

I remain short (yes, still), seeking a first exit around 1395, although my target low for next week is around 1380.

UPDATE 3.22pm We had a break earlier below the 10MA on the daily, thats strike'1 for the market.

sp'daily5f

back after the close