sp'daily5
Summary
So, we're set to open somewhat lower, just 0.3% from breaking the last weeks low. Certainly, given an hour or two, we could take out the low.. and just keep slipping into tomorrow.
For me, the issue now is whether we get stuck around 1950/40s...or somehow can unravel to re-test the August low.. no later than end of next week.
It won't be easy... the style of price action today and tomorrow will give us a good idea of where we might be trading across the next few weeks...perhaps even months.
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*as ever...eyes to the VIX, it can often offer more clarity than the indexes. Equity bears should be seeking VIX 17s by tomorrow.
Notable weakness: TSLA -2.1% (Mr Carboni will be pleased)
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Doomer chat with Hunter and Mannarino
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Good wishes for Monday
8.53am... indexes still sliding in pre-market sp -16pts... set to open at 1966.. a mere 1pts above the Thursday low...
Sure looks like we're going down hard this morning.
8.59am.. sp'500 takes out the Thursday low in pre-market...
this is a good sign for the bears...will need some good confirmation via VIX 16s.
9.34am.. VIX 17s... a major achievement to start the week.