3pm update - weakness into the close

On balance, it should seem we will seem general weakness into the close. Considering the sp' is now only 9pts higher, there is still a moderate chance of fractional red Tuesday close. VIX is showing some power, and a close in the mid 14s would certainly be..useful.


sp'60min

vix'60min

Summary

VIX has broken above a series of minor lower highs..and the door is now open to the 16s.

In theory, hourly charts are suggestive of weakness into the close, and especially early Wednesday.

The problem for the bears is that at 10am tomorrow, a rather large QE occurs.
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I will very likely hold heavy short overnight..seeking an exit early Wednesday in the sp'1630/25 area.
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UPDATE 3.32 .  sp'1659....I'd certainly like a close <1660.

I will hold short overnight.