sp'60min
VIX'60min
Summary
Price structure on the hourly cycle now looks a rather clear bearish pennant... with the Friday low of 1974 decisively busted.
Next key support, the low 1960s...
All things considered, I don't see any real power behind this opening weakness, and I can't take any of it seriously. Its the same style of price action we've been seeing for many.... many months.
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Notable strength: AAPL +0.5%... on its way to the big $100... and if you think AAPL is going to $100.. then it should bode well for the broader market.
10.33am.. hmm... well, I gotta think the bears are getting a chance to exit in the 1960s before much higher levels later this week.
I realise some out there are of course top calling, and seeking much lower levels... but really, seems unlikely.
Sig' decline, R2K -1%... in the low 1130s... testing the July'19 low.