3pm update - battle into the close

A new low for the indexes, and bears are within range of the big sp'1600 target. Its not necessary for that to be hit of course. VIX is higher, but only by 7%, which in the scheme of things, really isn't that much. Most important issue of the day - transports fails to hold the 6200s.


sp'60min

vix'60min

Summary

Well, its the closing hour. Can the bears hit 1600, or will be the bulls manage to kick things higher?

Bulls should be seeking a close >1625. That IS viable, but it'll take a major short-stop cascade to do it.
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I remain on the wrong train though  The irony of it.
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UPDATE 3.33pm  market trying to floor in the 1610/12 area, hourly index charts offering upside into tomorrow. Daily charts STILL bearish though.

sp'60min

I'm still holding out, I guess you could say. Although being a permabear, 'holding out' is not exactly something I'm new to.