12pm update - bear flags on the two leaders

Whilst battle continues, the daily cycles are still warning of trouble. The two leaders - Trans/R2K, both have very clear bear flags, and they are still suggestive of a further attempt to break <sp'1765 next week. VIX has failed to clear the 19s, and is now set to turn red.


Trans, daily

R2K, daily

Summary

*VIX, we have a clear double top at 18.99, but underlying momentum remains strongly to the upside.

So...right now, its a very conflicted market, but..bears still have the edge - on a multi-week basis. Obviously today won't be the big break some were hoping for this morning.
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VIX update from Mr T



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time for lunch :)
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12.12pm ...and there goes the VIX...red.   The failure at 18.99 was indeed a real problem this morning.

However...bigger daily charts are still holding bear flags. Ideally, anyone who exited short this morning, will have a good re-short opportunity later today/early Monday. 

Despite equity recovery...AMZN failing to recover...-9.2%.