1pm update - bears are ready

Market looks exhausted after a three day bounce. Hourly charts remain highly suggestive of significant weakness into the close, and at the Thursday open. Initial target is sp'1560/55, with VIX 15.25. Precious metals have lost most of their gains, with Silver already red. Oil is strong.


sp'60min

VIX'60min

Summary

Its looking rather good right now for those bears who have been building short positions since yesterday.

Hourly charts look good for index weakness, and a VIX that 'should' close in the 14s.
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*I remain heavy short, will consider a 'brief' exit at the Thursday open, if we gap into the sp'1550s - with VIX 15s.


VIX update..from Mr T.



stay tuned

1.37pm - micro-chop/rally, back sp'1580.  Doesn't do anything to negate the turn that is due.