3pm update - stuck in the 1970s

Equities appear stuck around sp'1975. A daily close in the 1980s looks unlikely. A further wave lower early Tuesday, to the sp'1950s looks very viable.. along with VIX 14/15s... before another short term floor is secured.


sp'60min

Summary

Certainly...a bit of a mixed day. I am not sure anyone will be much pleased with today.

Equity bulls do have sig' QE on Wed/Thursday to look forward to... should be enough to kick the market to the sp'1990s by end of the week.

--
yours... on the sidelines...overnight... again.


3.41pm.. minor chop... but we do look stuck...

so.. I'll look for another wave lower..before I go long.
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back at the close.