1pm update - 8pts off the low already

The bulls are already staging a typical fight back after the earlier non-significant falls. A close in the sp'1690s will again smite the bears, and set up the 1710/20s by next Tue/Wed. Metals remain weak, but recovering somewhat with the main market.


sp'60min

vix'daily3

Summary

It doesn't look great for the bears right now. If 1676 was the sub'4 low - and it sure looks like a clear ABC wave, then we should just keep on pushing higher into the Friday close.

Certainly 1700s seem unlikely today, but Monday...yes.
--

VIX is weak, and looks set to close red, with the last 4 trading days merely being a bear flag.