sp'60min
Summary
With a key break of the weekly 10MA @ 1848, I have one of my 'okay to short' triggers hit.
The only one left is the 50 day..at 1839.
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A bounce..if we get one..right now..to maybe 1865/70.
Certainly, price action looks very weak, and I sure won't go long.
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As ever..how we close will be important.
1.07pm.. What remains bizarre...amusing..if utterly lame..seeing the cheer leaders on clown finance TV get rattled by a two day decline.
We're not even 3% below the historic high (from a mere 9 trading hours ago)..and its almost as if they are ready to pick up the red phone to Yellen.
Weak minded fools..every one of them!
1.15pm.. back to 1845...and this sure is the most consistent downside action since late Jan'.
A break of 1840 today..would really spook the bull maniacs... VIX +12%...finally showing the kick it lacked on Friday.
1.25pm.. another attempt to floor..this time at 1844.
Bulls need to break >1850 to begin a bounce cycle.