3pm update - major victory for the bears

Regardless of the exact close, the bears have achieved an enormous victory today, with a decisive break of sp'1770..all the way into the mid 1740s. It seems we're just a few days away from testing the 200 day MA of 1707..if not even the lower weekly bollinger - now in the upper 1680s.


sp'daily5

vix'daily3

Summary

There is ZERO doubt now. We're headed for the 200 day MA...if not the lower weekly bol.

A hit of the latter - whether later this week..or next...will arguably confirm 1850 was a key inter'3 top of the giant wave from Oct'2011.

That has huge implications for the next few months, but more on that...across the evening.
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3.03pm...Rats selling into the close....no one wants to buy until sp'1707...at least.

Mainstream cheer leaders are looking worried...'where is Yellen?'  I'm sure they'll be screaming later this week.


3.32pm.. minor chop... VIX holding 21.  Without question...a hugely important day for the bears.

What will be interesting is the power and style of the bounce..from 1710/1690.


3.48pm...rats are selling into the close...1730s look viable....even VIX 22s.

Holding to primary target downside..1710/1690...with VIX 25/27