11am update - broken rising channel

Moderate morning weakness, with a break <1580, sp' has arguably broken below the rising channel since the rally started last Thurs/Friday. Bears should seek a weekly close <1570, with VIX in the upper 14s. Precious metals holding minor gains, Oil looks maxed out.


sp'60min

vix'60min

Summary

Certainly, the price action is still very minor, but underlying trend appears to be turning to the downside.

Bears need to see the sp'1560s, before they can be confident that a successful break under 1536 is viable.

Long day ahead.
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*notable mover..AMZN, -6% @ $258. Over-priced by...probably 90%, not that I'd ever meddle with that nonsense.
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UPDATE 11.38am.. Oil breaks..  USO back <33...under the hourly 10MA, and is probably starting a new multi-day cycle.