11am update - weak market..but upside still viable

The market is moderately lower, but as ever...there remains the threat of a test of the 1576 high. A break into the 1550s though, would make it rather difficult though for the bulls. VIX is a little higher..but so far..nothing significant. Oil is lower..after the weekly report.


sp'60min

USO, daily2

Summary

So..we've still not hit the big 1576..and perhaps..we won't.

Regardless, the weakness is building out there..as many chartists recognising.

Its just a matter of when we take out the sp'1538 low..not ...if.
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*I exited USO (short) just earlier...will look to re-short it..later today..maybe again in the 34.60/70s.
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I will also look to pick up an index short block..or a VIX call block.
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