2pm update - Fibonacci downside

The Wed' low of sp'1988 looks set to be broken.. whether late today.. or tomorrow. Next Fib' retrace level is 1957... although that looks a stretch, given that we're already day'5 down. What is clear... in the next multi-week up wave.. if the bulls can't manage a new high.... it will confirm the provisional warning now seen on the giant monthly cycle.


sp'daily3 - fib levels

Summary

*as things currently are... sp' monthly cycle has a bearish cross (again)... giving MARCON 6..  but how we close the month is what really matters.
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So... we're lower for the fifth consecutive day... and market is getting increasingly rattled by the periodic 'financial events'. Certainly, this morning's SNB policy change has upset many... and some will no doubt be on the receiving end of a margin call from hell today.

In many ways.. it is relief that we have a 3 day weekend ahead!

Notable weakness: BAC, daily

An ugly break through the 200dma... frankly... I am VERY surprised. Next support 14.75/14.25
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yours...
      no margin.
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2.03pm.. the entertainment continues............ Oil -3.5%... having been +5%  Crazy day.