sp'60min
R2K, daily
Summary
As ever...sometimes bounces just fail right from the outset, and that is the case this morning.
R2K looks set to lose the 1080 floor... opening up 1050.. which would likely equate to Dow 16300, with sp'1900.
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*for me, at least I'm not long, and I have ZERO intention of going long until the 1920/00 zone. I'd have no concern going long around 1905/00... but right now that is very unlikely until the latter part of next week.
11.10am.. R2K still holding the 1080 floor, but really, it looks completely busted on the bigger monthly cycle.
Sp'1934...we're only 1.5% from the August low, and that is now within range by tomorrow.
Overall... for those looking for real downside action in the autumn... this is a promising initial wave down so far.
Notable weakness: BTU -4%, CHK -4%, miners/energy.... under pressure
11.37am.... Bulls being broken...
sp'1931.... R2K 1081.....
Fun huh?
11.39am..
R2K LOSES 1080... CRITICAL support BUSTED
11.42am... Major day for the bears, we look headed for a full test of the August sp'1904 low.