sp'60min
vix'60min
Summary
It is a tricky closing hour to call. Certainly, the broader trend is still lower (if slowly), but a simple look at the hourly MACD (blue bar histogram) cycle, and there is very high risk of a snap higher.
Interesting price action in UAL, STX, and many of the miners.
updates..into the close...
3.07pm.. new Qe-pomo schedule out.. see NY Fed
Bears should certainly be mindful of the sig' QE tomorrow and Wednesday.
3.10pm.. despite the past 8 days of weakness, just consider that the 'old leader' is still a significant 5.5% higher on the month.
The broader up trend....continues
--
3.20pm.. despite another wave of weakness in the sp', the two leaders - Trans/R2K, are holding up pretty well, and certainly not warning of major downside.
Equity bears..and I realise there are a fair few out there today...should be desperate to break the opening low of 1674.99. A daily close at the lows..would indeed be bearish for tomorrow, and bode for a move to the 1660s..which some are suggesting.