sp'15min
sp'daily5
Summary
*seen on the daily chart, today's candle illustrates a major fail for the bull maniacs. Even if the market closes in the sp'2030s (which won't be easy).. the spiky candle does not bode well for the bulls.
We're just about holding the rising lower trend... but its marginal... 'at best'.
--
Notable weakness, Copper, -5%.. with a new multi-year low of $2.58.
...updates into the close.............
3.14pm... chop chop... just above the low.. sp'2012 with VIX 21s.
Clearly, anyone short is getting the opportunity to exit... price action remains BEARISH in the immediate term. Arguably... until we take out the Fri' high of 2064... outlook remains uncertain.
3.19pm.. sp'2019.... VIX cooling... but regardless... the technical damage has been done.
Real carnage in the copper market today... finally starting to 'catch-down' to Oil.. you might say.
3.35pm.. Bears starting to close out... sp'2021.. .VIX still holding the 20 threshold though.
Regardless.. a massive intra-day swing.... major bull FAIL.
3.38pm.. HUGE short-stop cascade underway... sp'2024.... the 2030s are still viable by the close... not that it negates the earlier FAIL.
3.40pm.. HYPER ramp underway... bears on the run.... this is one WILD CRAZY day.
VIX set to close red.
3.45pm... Smaller 15min cycle set to get a bullish cross into the close... bodes for 2040/50s tomorrow morning.
WILD day.... very unexpected.
3.52pm.. renewed weakness... market trying to get a close above the broken low of sp'2022... now looking unlikely.
back at the close...............