12pm update - weakness into the close?

Well, we're back under sp'1500 again, and so the bears are coming out of their caves. The old retracement target zone of 1470/55 is back in play. With dollar and VIX significantly higher, bears have a reasonable chance of breaking <1490 by the weekend.


sp'daily5

Summary

Its certainly starting to look like a bit of a choppy top has formed on the daily chart.

Obvious downside zone is the rising support -currently in the 1450s.
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more later..on the metals...

time for lunch...

VIX update..




back later

UPDATE 1pm.

Metals are seeing one crazy whipsaw day. Initial break lower, then snap higher..now falling back to the opening levels.

SLV, hourly

Nasty market
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Indexes seen a bounce..but is that it?

Bear sure do need a close below sp'1500.