3pm update - bulls refusing to buy

The main indexes are hovering close to the lows of the day. The Rus'2000 is especially weak, having now also broken the 50 day MA. VIX is moderately higher, +4%, at the 15 threshold. Metals and Oil are weak, but still nothing of significance.


R2K, daily

sp'60min

Summary

Despite the current declines, I'm not changing my outlook.

First a bounce to the 1680s...then a more substantial wave lower.
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I am still not intending to play this bounce, I remain very cautious, in what remains a very quiet August.
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3.14pm...still no buyers..and the indexes are in melt mode...(rarely) to the downside!

Next fib support...the mid 1630s.

 3.29pm.. Amazon.com is down.

This IS good news though, the longer they remain offline, the less money they lose on every sale they're not making!


3.36pm.. AMZN is back online....(ironically)....losing more money on every sale they make. !

Amusing to also hear the clown maniacs seemingly a bit twitchy of looming Dow sub 15k.


3.40pm..there should be pretty good support at current levels...

Stay tuned