12pm update - the ugly R2K

Whilst the main headline indexes see moderate swings, there is a clear break of core support in the R2K - losing the 200 day MA in the low 1100s. The bigger monthly chart looks... dire for May/June. Mainstream will no doubt start to shift to talk of 'R2K to test the 1000 threshold'.


R2K, monthly

Summary

Look at that MACD (blue bar histogram) cycle rolling over on the big monthly R2K chart. Most other indexes are also starting to roll. As ever, how we close the month, is what really matters.

Certainly...R2K 1000/900s...if the broader market gets trashed this summer.. to sp'1625/1575.


sp'60min

Ugly.......city. Hourly cycle offers downside into the close, and much of tomorrow.

-
VIX update from Mr P.



--
time for lunch....all I need is a cooker, urghhhh



12.26pm.. hourly MACD cycle set to go negative within an hour... a daily close around 1805/00..viable.

Interesting day....but more so...hopes of the bigger bearish picture for the early summer.


12.30pm... R2K in the upper 1000s.    10/15% downside to come.