sp'daily5
Dow, weekly'1b
Summary
A busy week begins!
With Dow losing 17500, its pretty clear... we're headed for the more rounded 17000 threshold.. which is arguably the floor for a giant H/S formation.
I'm aware I'm not the only one who sees it, I first noticed it via INTC.
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*I remain long VIX... am seeking an exit in the 16/17s.. before the Tuesday close.
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stay tuned.
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10.05am.. a micro bounce, but typically.. we'll get a floor around 11am.
Regardless... Dow 17000 looks due.... and that is surely going to kick the VIX into the low 20s.
10.26am.. a little bounce/chop... but the technical damage is done. Dow 17438... so.. 438pts to go.
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time for an early lunch... back at 11am