3pm update - closing hour weakness?

The market appears stuck around sp'1695, but that is a mere decline of 0.2%. Hourly index charts are still suggestive of a C wave to come..and the target remains 1675 - but clearly, that is not viable until next Monday. VIX still looks set to move into the 14s.


sp'60min

VIX'60min

Summary

For the bears, a frustrating day..and week.

The market remains a mere 1% below the all time high of 1709 from last Friday.

The notion that some sort of 'big multi-month' decline has begun...is likely nonsense.
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*I remain on the short side, and seeking an exit around 1675 on Monday morning.

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3.18pm..well, we're still holding under the hourly 10MA...so...the 1670s are viable for Monday.

As it is, most of next week looks a write-off for the bears, especially the latter part.