2pm update - hourly cycles look floored

US equities remain weak, and are significantly below the Friday morning high of sp'2019. No doubt, many of the weaker bulls got washed out today, and Mr Market has likely drawn in a few bear chasers on the downside. Regardless... primary trend remains UP.


sp'60min

sp'daily5

Summary

*another day closer to winter..and frankly its starting to get somewhat depressing. I remain trying to grab every hour of the remaining summer sun I can get...

Another day closer to winter

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As for the market.. bulls just need to hold sp'1990... although yes, other indexes - notably, the R2K look a real mess right now.

All things considered, nothing has changed in the bigger picture, but I'm sure many (not least the maniacs on zerohedge) will be proclaiming the Alibaba IPO marked a key multi-year top.
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Notable weakness: TSLA -4.8%,   BABA -4.0%.


2.28pm.. so much for the floor.

I suppose some will be calling this a micro 5th lower, but whatever you want to call it, its not a great start to the week for those broadly long.
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VIX +15%..making a push for the 14s