11am update - still nothing significant

The main indexes have taken out the recent sp'1680 low, and no doubt many are now calling for doom next week. The declines are still not significant, the bears haven't had a significant down day in almost 5 full weeks. Baring a close in the 1660s, the bulls are still in control


sp'60min

vix'60min

Summary

*probably important to note that despite the index weakness, the VIX isn't even up by 5% yet.
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Well, a fair few out there have been looking for another small wave lower, and we're getting it.

Best guess, this is a C' wave of a 4, with much higher levels next week.
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Lets be clear, the general mood out there is still very bullish, it'd be surprising if 1698 turns out to be the top of wave'5..almost a week ahead of the next week FOMC.
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