2pm update - afternoon bounce

US indexes rally off their earlier low of sp'1958, but price action remains very weak. The renewed weakness is being reflected in the VIX which earlier had strong gains of 10% in the 15.70s. Metals have vainly built gains, Gold +$14, but it does nothing to the broader trend.


sp'60min

VIX'daily3

Summary

Overall, it remains messy, and with two hours to go, its very difficult to call today's close.

Something I've not mentioned... with the renewed weakness, the weekly index charts remain on outright sell... but more on that later...

As ever.. how we close... is far more important than how we open.

Best case for the equity bears today... sp'1955/50 zone, with VIX in the low 16s, but I have low confidence in any outlook right now..not least since my mind is hazy and light headed.
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Tired.. ill.... I will endeavour to return at the close.