3pm update - chop into the close?

US indexes remain weak, and despite a few attempted rallies, the sp' is close to taking out the morning low of 1842. It won't take much to close in the 1830s..and that opens up the target zone of 1800/1790s within a day..or two. Metals remain weak, Gold -$11.


sp'15min

Summary

*I remain VERY closely watching the smaller 5/15min index/VIX cycles.

I'd certainly consider waiting until early tomorrow, but I'm getting real...twitchy to hit some buttons.
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Am watching the VIX..which is holding around 15....which of course..is a relatively low level.


3.07pm... RE-SHORT, secondary block.. from sp'1845..

Price action looks weak...seeking a key break <1830...which opens up 1800/1790.


3.20pm... sp'1847..and the 1860s now look well out of range. Bulls had a chance...and failed.

There is certainly minor risk of a gap higher tomorrow...but the daily and weekly charts are both warning of trouble for tomorrow.

So...I hold short overnight... via SDS..and an index put block.
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A VIX close in the 15s would be...useful..but then..it feels like I've been saying that for weeks.


3.32pm  minor chop..and we remain..<1850...which used to be support.

All things considered..tomorrow looks...very much in favour to the bears. 


3.47pm... chop chop chop....I'd settle for ANY close <1850.

back at the close.