The US market has looked tired for days, and with the two leaders - Trans/R2K, breaking earlier, it is not exactly a surprise to see the broader market similarly turn red. VIX is battling higher, a daily close in the 15s would be an important initial move. Metals are weak, Gold -$8
The rest of the day...will be interesting
...yes...Linderman...and for the two of us ;)
Equity bears really need a VIX in the 15s to offer some clarity this is just not a minor swing.
16s..would really clarify matters, but will be lucky to see that tomorrow.
2.15pm.. minor chop...
Best case for the close.. sp'1850...with VIX 15.50 or so.
Hourly MACD cycle is set to turn negative BEFORE the close..so..price action should remain weak for rest of today..and early Thursday.
2.30pm... look at those momo stocks....they are getting the hammer.. FB -6%, TWTR..all of them!
2.46pm... a little minor chop..in the sp'1860s....bears really need to close this <1860. VIX +3%, which right now, is just barely noticeable.