sp'daily5
sp'weekly7
Summary
Again, I'll highlight the bigger weekly chart. Its still holding a blue/neutral candle, but ANY daily close in the 1630s, will effectively destroy what little chance there remains of a further wave lower.
--
*On any basis, its a 'sell/short-cover at any price', if we break/close >sp'1630.
Rather than watch the cheer leading maniacs talk about how 'Monday is the new Tuesday', how about....
Now, I'm sure you probably won't understand a word of what they're saying, but watching a revolution live..that's pretty interesting.
UPDATE 2.22pm.. sp'1618, hmm, marginally interesting.
Still, bears really need sub 1615s, to have any moderate hope for Tuesday. Even then, what matters is a daily close back <1600..which looks a tall order on any outlook.
VIX appears to have floored @ 16.00, but its going to take one hell of a strong kick higher, just to get close to 20. Considering its holiday week, I just don't see that as viable.