3pm update - waiting for the next down wave

US indexes have seen a very notable wave from sp'1926 to 1950, but with the broader trend breaks - not least with the R2K failing to hold 1080, the bears remain in control. VIX has cooled lower, but with likely moderate upside into the close.


sp'15min

Summary

*I am short from sp'1948... with hold overnight.. .seeking an exit in the 1920/15 zone.
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Today feels very much like last Friday.. with a bounce into the afternoon.

Last Friday I shorted the market.. and after some hours of waiting... I'm back on the short side. Considering the MANY trend breaks, there seems no reason not to be treating the bounces as......... bounces.
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*I'd like to some renewed upside kick in the VIX.. a daily close in the 17s would be useful.

updates into the close.......


3.25pm... minor chop... and the setup is very much like last Friday.


3.36pm.. indexes turning red a little.... overall... looks okay.

VIX crawling higher... 


3.48pm.. Rats are getting twitchy... some selling into the close seems underway.

*I hold short overnight...seeking the 1930/25 zone at the Friday open... I realise that is somewhat bold.. but still.. the broader weekly trends are now bearish.

back at the close.