sp'60min
sp'weekly7b
Summary
*weekly7b' is the most bearish outlook I can come up with right now, and as I will be noting...if 1850 is a key intermediate top, then in theory (based on previous big cycles) we should hit the lower weekly bol..currently 1682..but rising 10/15pts a week.
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It is notable that despite the lower indexes...VIX is moderately red.
Best case downside for the bears right now...by early Tuesday...sp'1770s...with VIX 19/20..before the 'stupid bounce'.
Notable weakness: TWTR, -7%
Strength: CAT +4.4%, RIG +1.3%
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time for tea :)
12.01pm It takes the sp' -10pts..to get the VIX to turn positive.
Bears are getting a chance to tighten stops here...considering King O' is talking tomorrow..with sig' QE-pomo, and then Yellen on Wednesday....
Be careful out there!
12.19pm.. the bull maniacs really must hold 1770/65 in the current wave..or..there is risk of a straight down move to the 200 day MA @ 1700...and that'd result in a likely hit of the lower weekly bol' by next week.
Look to the VIX...if it gets stuck in the 19s.....with sp' levelling 1770/65..that is a probable short term floor.
12.26pm..okay..now this is important...
R2K,...breaks the ramp from Nov'2012...its over....
Target IS the lower weekly bol..which would indeed equate to sp'1720/00 within no more than a few weeks.