R2K, daily
Sp'60min
Summary
I am tempted to go long the R2K (yeah, I know), but will hold off, since the other indexes look only in the initial stage of a rollover.
So...lets see if the market can melt lower to the low 1900s...before levelling out.
Keep in mind, the bigger weekly cycles are now offering the 1930/35 zone in the immediate term.
Yes, I've noticed the VIX, but 6% of a small number still makes for a low VIX.
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11.30am.. well, indexes have already recovered to some extent....although R2K is -0.7% still.
A bit of a messy Monday, certainly, nothing particularly enticing so far. No doubt, big action will come Thurs/Friday.
...and new index highs for the Trans, Dow, SP.
*I am guessing some of the wave counters out there would call this morning sub'4 of larger 3....with a bigger 4 - down sp'1900..later this week.
Regardless...for those short..this is annoying.