3pm update - a daily break for the bears

Regardless of the exact close, it has been an important day for the equity bears, with a clear break of the ascending wedge, as confirmed via a rising VIX. The issue now is how far down? The sp'2100 threshold looks an easy target, best case downside appears to be the 2060s within 3-5 trading days.


sp'60min

VIX'60min

Summary

*notable weakness in the Transports -1.9%
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Suffice to add... without getting lost in any minor noise.... the market looks headed lower for rest of the week.. and probably into next Mon/Tuesday.

A Greek deal of some twisted kind looks probable.. .and by then.. we could be flooring in the 2060s.
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*I remain short INTC.. and long VIX. For now.. I'm very content to hold into Friday.