sp'60min
R2K, daily
Summary
Well, it is good to see some significant red in these QE filled indexes.
It would appear highly likely the market will see follow through early tomorrow, but there is VERY high risk we'll floor in the 1735/30 zone..before the next multi-week surge in end Nov/early Dec.
..should be an interesting closing hour....
3.15pm... market is a bit choppy..but there is underlying weakness (at least in the very immediate term)..and I'd guess we close in the 1747/43 zone. That will easily open up 1730s at the Friday open.
VIX wants to close in the 14s..with 15/16s ..max tomorrow.
3.32pm... sp'1747...no doubt now. we close weak..and surely open tomorrow...weak.
The only issue..is where does it floor?
No doubt some bears will be posting collapse wave targets tonight..I think they are simply again getting lost in the hysteria.
Primary trend remains UP. More on that later.
3.36pm...and there are the VIX 14s.
3.48pm.. well, we're in my target zone.. it should set up tomorrow very well.