Closing Brief

The main indexes closed with rather significant declines, with the sp' hitting an earlier low of sp'1560. Despite a very weak closing hour, near term hourly charts are offering upside into Tuesday. Primary downside remains the lower weekly bollinger, currently 1495.


sp'60min

vix'60min

Summary

Well, a new low of 1560 was hit, and we're seeing what might be the first half of a bounce into the 1600/10 zone.

Best guess..sp'1605/10..before the next down cycle.

*I am on the sidelines overnight. Will seek a major re-short later on Tuesday!
--