2pm update - daily charts not turned yet

The market is holding together pretty well today, but there is most definitely no turn yet on the daily charts. Bears are still in control, next downside target remains a touch lower, around sp'1615/10. VIX may yet get one little spike early Tuesday, 20s still look out of range though.


sp'daily5

Summary

Certainly, I wouldn't be surprised if we are trading sp'1615/10 early tomorrow.

Nikkei futures for Tuesday are -3% (according to clown finance TV), so...the equity bears have that going for them.
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I will look to again go heavy long indexes...tomorrow..as ever though....one day at a time.

*I should note the transports, weekly...

A daily close <6200 would be a problem. More on that later though.


2.16pm...sp'1633s....a close 1635/37...very viable...although that still doesn't preclude a brief Tuesday drop.

Pretty good day for day-traders though.
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