sp'daily5
vix'daily3
Summary
The bigger daily charts tell the story. A failure on 'jobs Friday'..and we just keep on falling.
Once the 50 day MA is broken - as I'm guessing it will...then the door is wide open to the sp'1770s....which seem viable 'within days'.
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With the break of the weekly 10MA... I'm looking to launch an index short..on the next bounce. Right now, 1855/60 looks to be the best the bulls could hope for.
3.11pm.. we have a BREAK of down trend...bounce appears underway..will likely last into early tomorrow.
sp'15min
So..I'll be on standby to launch an index short early tomorrow. Hell, I might even pick up a VIX call block.
3.15pm.. ohh lookie..we're 'off the lows of the day'.
Bounce target 1860/65...early tomorrow.
3.30pm.. bounce..most certainly...bears on the run ! VIX about to lose the 15s.
3.46pm.. some minor weak chop, but the down trend from Friday has concluded..for a minor bounce.
Target remains the 1860s..before next down wave. VIX holding gains of around 9%, which is twice the Friday gain.
VIX did make some progress today.
3.51pm.. chop chop... a second good day for the bears...now its a case of whether the rebound can be contained.
back at the close.