sp'60min
Summary
*price structure is a baby bull flag - seen more clearly on the 15min cycle. Bodes well for the bulls early tomorrow.
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The day started with a somewhat surprising sharp gap lower, but the daily close was certainly one that should concern those still on the short side.
There are a truck load of reversal candles on many individual stocks, and we have a clear black-fail candle on the VIX daily chart.
Possibility of further declines?
Sure, but... I'm guessing no. The broader weekly/monthly trends remain outright bullish, and I can't take any 'bearish chatter' seriously unless we were to break below sp'1900.
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With no football today (oh how I will miss the world cup), I will do the usual full set of post trading day updates....
more later.. on the VIX