sp'60min
vix'60min
Summary
*have re-drawn the channel on the index chart. Two key levels to keep in mind now... 1640..and then 1627. Once the latter goes..then its very straight forward, should at least fall to the 1580s.
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Well, a very dynamic morning, and for the day-traders out there, today certainly offered both sides opportunities to re-position.
All things considered, things look pretty much primed for the bears, especially on the hourly charts.
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*I am heavy short the market from sp'1659, will hold across the weekend.
3.03pm... Ms. Bart' 'we're off the lows of the day'. Yeah...I guess we are. sigh.
*hourly MACD cycles looking good for the bears...good opportunity here for the indexes to close..RED.
3.10pm.. Santelli with the pig lipstick...and the market is ROLLING OVER.
An interesting 50mins to go.
3.16pm.. the price action is very different from last Friday afternoon. There is even small chance of a major closing 10/15mins...falling into the 1640s..which would set those weekly charts back to bearish.
VIX looks set to close...slightly higher.
3.27pm.. still looking okay for the bears...a close <1657 would be...useful.
3.33pm..the question I am now wondering...how will Monday open? Now..I'm not expecting any US attack on the sovereign nation of Syria this weekend..but we sure could see some 'developments'..whether more Putin comments, or military build up.
The rats are bailing ahead of the weekend...
Eyes on the VIX. I'd like a close in the 16s.
3.48pm.. SP' struggling to hold the hourly 10MA of 1657....any close under that, and it will set up a fiercely red Monday.
3.50pm..looking exceptionally good for the close..and Monday.
back at the close.