2pm update - Mr Market washing long stops?

Well, sp'1634 didn't hold, and we're now back in the upper 1620s. Bulls need a close back in the mid 1630s at least, whilst bears merely need <1622, although not necessarily today. VIX is +4%, but not yet in the 17s.


sp'15min

Summary

A red Tuesday? It won't be easy for the bulls to battle back from this. Yet the smaller 5/15min cycles are now very low, and we normally get some degree of latter day rally.

Lets see what Mr Market can do in the remaining two hours.
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I hold...on the long side. Daily index charts look floored...similarly for the VIX..on the high side.


UPDATE 2.10pm.. sp'1625, a mere 3pts from taking out the low.

Well, if the bears are going to break to 1600, now would be the time.

sp'60min

Bulls need to hold this...or another 20pts down to go.


2.24pm.. a fierce battle now, sp'1626/27....a move back into the 1630s will probably start a short-stop cascade, and then up into the close. 


2.34pm..sp'1628...bulls should be seeking a close >1635.