3pm update - weakness into the close

US equities look set for renewed weakness into the close, which should see VIX back in the upper 20s. A further wave lower, breaking the sp'1820 low looks likely, before a sustained bounce can begin. Oil is holding gains of a rather significant 1.3%


sp'15min

sp'daily5b

Summary

*chart 5b, best guess... a marginal new low.. and then.. UP UP UP.
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A somewhat tedious day... having swung from a pre-market low of around sp'1822 (sp -40pts) to an intra high of 1876.

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*I will hold short overnight, seeking an exit somewhere under 1830 tomorrow. Trying to get an exit in the 1820/10 zone... won't be so easy.


3.28pm It remains choppy, but underlying pressure remains down.

Seeking a close in the 1858/54 zone.. with VIX 26.50/27.50


3.42pm... Weak...chop.... a close in the 1850s still looks viable...

Notable weakness; TWTR, -3.3%