sp'daily5
Summary
So...err, we're set to open lower, by the biggest amount in a few months (I think), and frankly..... I can't figure out why.
Price structure on the hourly charts was a bear flag yesterday, but really, I am surprised.
Regardless, first support is pretty clear.... sp'1950/45 zone. Semi-critically, we have the weekly 10MA... in the mid 1930s.
sp'weekly8b
Video update from Carboni...
One thing is for sure..this morning won't be dull.
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Notable early strength: UAL, +4.8%... with a clear break of the multi-week down trend. UAL is $42, and looks set for $50
8.54am.. sp -19pts. we're set to open at 1953.
R2K is a rather huge -2.0% lower in pre-market....which will make for the low 1150s.
9.20am.. Looks like we'll be in the 1940s today.... for a break of trend.. bears need <1945.
VIX 13s seem a given.
9.28am.. biggest opening drop in 3 months..... have a good day everyone!
9.32am.. VIX opens in the low 13s...which is first resistance... next level 15
9.37am... BLACK candle on the VIX...... equity bears gotta be real careful here.
There is high potential for a reversal today.
*I realise some out there will be looking for much lower levels, but really, probably vital to keep this in perspective.
The black candle is a real issue here....... bears...beware!
9.42am .. High for the day - in VIX, is probably in... and equities will likely be flooring real soon.
For those on the short side..the early signs are there to make a run for the exit.