2pm update - big fail for the bulls?

The market has rallied into the afternoon, but is seemingly maxed out..a touch under the morning high of sp'1700. A rollover into the close is very viable, primary downside target for Fri/Monday is sp'1675. VIX is similarly looking floored in the mid 12s, upside target is 14.50/15.00.


sp'60min

Summary

So, I've made my move..having given the market over a full day to bounce from yesterdays low.

I think its looking pretty good for the bears.

As ever, any move >1709 would be a problem, but then, that's what trading stops are for.
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*I am heavy short the indexes from sp'1699, and will most certainly hold overnight. Seeking an exit in the mid 1670s, preferably tomorrow!


2.22pm ...15min cycle suggestive of a snap lower around 3.15/30pm.

Any close <1695 would be useful to tomorrow, and bring the target within just 20pts...a mere 1.25% away.  That is easily viable to end the week.


 2.40pm.. Mr Market sure does consider sp'1700 a key level.

Bulls..had a good run...its time for the bears to kick this lower into the close.