US equities closed significantly lower for the third consecutive day, sp -30pts @ 2061. The two leaders - Trans/R2K, settled lower by -2.0% and -2.3% respectively. With the failure of the 50dma (2067) to hold.. market looks set for continued downside to at least 2040, if not the 2020/10 zone.
Clearly.. a major victory for the equity bears.. breaking soft support of sp'2085... and closing under the 50dma.
Market looks set for continued downside (regardless of any overnight/early Thursday gains)... to at least 2040... if not the 2020/10 zone.. where the 200dma will be lurking next week.
Have a good evening.
more later... VIX