Closing Brief

Equity indexes all closed strongly lower, sp -40pts @ 1741. The two leaders - Trans/R2K, both fell a very significant -3.2%. The primary downside target remains 1710/1690, which looks viable within a few days. VIX confirms the underlying market 'minor trembling'.


sp'60min

Summary

So..despite Sunday night/pre-market futures - offering minor gains..they sure didn't hold for more than a few minutes this morning.

With the ISM data tipping the market <sp'1770, we have a confirmation of the bear flags (see on hourly/daily charts), and we're now well on the way to the target zone.

To all those on the short side..congrats...there is more to come.

What will be important is making a good exit in the low 1700s..possible 1680s..later this week/early next week.
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the usual bits and pieces across the evening.