2pm update - bears battling to close sub 1500

Mr Market is really struggling to hold sp'1500. Whether or not we close <1500 today doesn't seem too important. We have a solid decline continuing, with first target of 1490..and then 1480/75 - the latter of which will be somewhat difficult to hit.


sp'daily7 - fib levels

vix'daily3

Summary

VIX is finally in the 16-18 gap zone. 17s seem likely - with sp'1490. The only issue is whether we can see 18s with sp'1480s.

I realise many are now seeking much lower levels - with the weekly index charts rolling over, but I still think its just a tease for the bears.

back at 3pm.