sp'60min
R2K, daily
Summary
Interesting day, and at least no one can complain its been boring since Friday morning.
The weakness in the R2K remains much the same as it has since the spring... and it remains bizarre how many of the cherry pickers have moved from touting the Dow as the big bearish index..to the R2K.
What will it be next year, the Nasdaq?
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3.12pm.. First upside target remains the hourly 10MA.. currently 1990.
Most notable aspect of the entire day remains.. VIX.. which has had a divergence to the declining indexes across the entire day.
VIX is NOT confirming any of the underlying weakness.
There remains a gap in the 15s, but still... even that looks difficult to hit.
3.27pm... sp'1987... 33mins to go... bulls need 4pts to decisively clear the 10MA
3.42pm.. sp'1988... bears can't say they didn't get at least a good six hours to exit today.
At the current rate, the hourly MACD cycle will turn positive by tomorrow lunch time...at which point we will probably be in the 2000/2005 zone.
BABA remains weak, -3%