2pm update - initial signs of a turn

The smaller 60/15min equity cycles are offering the first sign that we have a somewhat lower high of sp'2055. Without question though, all indexes remain significantly higher, and this is a rough day for those holding short from yesterday. VIX is clawing back some of the losses, -10% in the 16.60s.


sp'60min

sp'daily3 - fib retrace

Summary

Overall, it remains pretty crazy, but so far at least.. it does count as a lower high of sp'2055.

Whether you want to call today's move a sub'4.. or whatever... I'll hold to primary target of sp'2000, but that is clearly out of range until next week.
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Notable weakness... coal miners, BTU -5.4% in the $7.30s..... 'grander' target remains the $5 level.

Strength.. retail... HD, M, both higher by other 2%.
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2.07pm.. sp'2047...

Equity bears should be seeking a close under the hourly 10MA.... 2043


2.30pm.. sp'2042.... broken hourly 10MA... VIX rapidly rising....   the rats are bailing 


2.50pm... starting to get real amusing... VIX turning positive. ... major reversal underway