1pm update - still looking for 1904

This mornings low of sp'1912 is unlikely to be the low of the current cycle. Regardless of how we trade in the remainder of the day, another move lower seems likely early next week, before a floor can solidify. VIX is holding up well considering the current equity bounce.


sp'60min

VIX'daily3

Summary

*now that've seen a few more key signs achieved, I will be starting to post up more targets, especially for VIX.
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With 3hrs left of the trading week... bears have achieved a HUGE amount, not least with the VIX.

Will be interesting to see what kind of selling we see in the late afternoon. After all, who will want to be long across the weekend?

Notable weakness: INTC -4.1%  , SDRL -3.7% in the $23s.