12pm update - Monday swings

Today is turning out to be a day of swings, with an early low of sp'1980... now bouncing to 2010. With the break of the key 1988 level, it would still seem this is merely a bounce to be shorted... as supported by the bearish weekly AND monthly cycles. Metals remain weak, Gold -$11


sp'60min

sp'monthly9

Summary

*note the MACD (blue bar histogram) cycle on the monthly chart... even with a bounce to sp'2008.... we're still building downside momentum. Yes... we are only day'1 of the trading month... but bears do have a real chance here to whack the market lower across the next few weeks.
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Best guess.. this is just a minor equity bounce... primary downside target zone remains 1920/00 within the next 9 trading days.

If sp'1900... VIX will probably be in the low 30s.....  VIX shorts... beware.

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VIX update from Mr T (due)

**seemingly.. taking a day off.

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time for tea


1.04pm.. suffice to say... weak weak weak.... as noted earlier.. the damage HAS BEEN DONE.

Bull maniacs in real trouble....  just awaiting a stinky headline about Greece.. for this to unravel into the 1960s.