2pm update - floor test successful

The market is indeed weak, and pulled back to 1599..but it held. It is very likely a good floor test, and now the market can battle higher. Primary target zone remains 1625/27, that seems more likely Friday, than late today. Precious metals remain...obliterated.


sp'15min

Summary

So...a floor test..and I have to say, its looking rather good.

I will NOT be going long, despite my immediate outlook.

I am resigned to now looking for much lower levels in the days ahead..perhaps as low as 1510..if the market really gets upset.


sp'daily4 - time issues/targets

stay tuned!
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2.14pm...new low....1598s hit. VIX still well below the earlier levels though.

2.23pm.. sp'1595...well, it just keeps on falling. Hmm. Too low to chase lower..and too risky to go long.

2.32pm...truly lousy day for those long. Dip buyers getting  whacked.

This sure is one hell of a down wave from the 1650s !

2.43pm...counts well as a 5 wave now..will post chart soon.

I'm sure tempted to go long here...but no.

Bounce target..short-entry..remains 1625 or so..which now is no viable until tomorrow.
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