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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