1pm update - still battling away

Another minor wave lower to sp'1772, with VIX breaking into the low 16s. Mr Market is surely just continuing to build a floor, although as yet..no clear turn. Metals remain deeply weak, Gold -$23, Silver -3.8% - both look set for much lower levels into year end..along with the miners.


sp'60min

Summary

I still think many are losing perspective.

A move from 1812..to 1772.. 40pts.. that is just over 2%. Does that merit even mild hysteria?
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The original target zone was 1774/72...I'm certainly curious as to if that holds this afternoon!

Notable strength: FB, NFLX, TSLA.    Indeed, the momo stocks have done very well in the last few days.


1.27pm. Equity bulls need VIX <15.50 to confirm a viable C wave floor.

Indeed, bears should be mindful that of a VIX that is now probably maxed out.