sp'weekly8
Summary
*after this mornings bounce I'm somewhat adverse to highlighting the smaller cycles. Weekly chart remains on SELL.
Without question, for the serious 'big money' out there, short-stops would be around last Friday's high of 1985.
Any move into the 1990s this week, and its white flag time. I hope it doesn't come to that. I'm tired of the low volatility..its frankly boring...and I think even the permabulls would dream to be buying 15/20% lower within a few months.
--
So...3 hours to go..lets see if the bears can show some downside power...
1.30pm.. VIX holding moderate gains of 7%.... nothing special.... the only good thing for bears is we did see 17s at the open.
The remainder of the day...pretty critical.