3pm update - weakness into the close

US equities look set for renewed weakness into the daily close, having already started to cool from the earlier bounce high of sp'2067. A fourth consecutive net daily decline looks probable for all indexes, with VIX due to claw back into the 16s. Oil has built powerful 'war gains' of 4.7% into the $51s.


sp'60min

VIX'60min

Summary

A daily close in the sp'2050s looks very likely.. along with VIX 16s.
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Notable weakness: precious metal miners, GDX, -2.0%.. despite Gold +$9.
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3.12pm... It remains choppy... but I'll hold to the above closing targets.

Certainly.. just who would want to be holding long overnight? I'd expect some of the rats to hit the sell button in the closing few minutes.

Notable weakness, coal miner, BTU -10.0%


3.30pm... Well.. half hour to go... market looks weak into the close.... another key break.. <2040 looks viable tomorrow.. which will give clarity for how we will trade early next week.