Closing Brief

The market opened significantly lower, ramped, but closed particularly weak. The bulls need to hold the line in the low 1620s, or there is a huge problem in the immediate term. VIX closed significantly higher, +11%  @ 17.13, and reflected a market that is battling it out.


sp'60min

Summary

So..a weak close, and a break under the triangle formation.

Yet, my best guess remains, this was merely a small wave'2 gap-fill. It will be important for the bulls to break the recent 1648 high within the next 3 days.
--


*I remain largely on the sidelines after a rather good morning index-long trade.

Baring a sharply lower Wednesday open, I will again consider another trade on the dark...I mean.. long side.
--