Closing Brief

There was a touch of weakness into the close, and the three day bounce looks to be concluded. If the count is correct, a very sharp decline down to the sp'1490/80s should begin, with VIX breaking the key 20 threshold. It could be a pretty exciting few days ahead.


sp'60min

Summary

It seems the algo-bots managed a few short-stop runs against the bears today. The little push to 1583 no doubt saw some bears get scared away, and maybe even a few bulls were chasing it higher.

If this 3 day bounce was indeed just a sub wave'2 - after last weeks '1 down, then the 3 is next, and that's where the real action will be.

I am somewhat looking forward to Friday.
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the usual bits and pieces across the evening
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*I hold heavy short overnight.