Closing Brief

US equities closed significantly lower, sp -43pts @ 2057. The two leaders - Trans/R2K, settled lower by -2.0% and -2.6% respectively. Near term outlook remains bearish, with next support in the 2060/50 zone, where there are multiple aspects of support. Any failure of 2050... opens a fast move to the giant 2K threshold.


sp'60min

Summary

*a particularly weak closing hour... the seventh consecutive net hourly red candle...
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.. to those short the broader market.. congrats... it has been a long time coming.

Of course... this down cycle will likely end within the next 3-4 trading days.

I'm still looking for the real action in the Aug-Oct' time frame.
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more later.. on the VIX