3pm update - closing hour weakness?

The market is starting to look a little weak again. The VIX is a touch higher, and a close in the low 14s would be somewhat significant. Bears should be seeking a close back in the mid sp'1450s.


sp'60min4

vix'daily

Summary

You can see we are just about levelling out on the daily VIX MACD cycle. A green close would finally end 6 horrific red days.

Its hard to count the smaller waves on the indexes right now. Regardless of what the count is, we still haven't even moved to the low 1440s yet. That seems the minimum to expect.

back after the close
--

BAC, getting trashed.

I think they were slightly downgraded earlier, but still, thats a significant move, and is close to breaking trend support.