With the sp'500 slipping into the 2080s, the VIX daily 'rainbow' candle has turned an outright bullish green. A daily close in the 14s would give extra clarity that a gap fill in the 15/16s is due next Mon/Tuesday. Metals remain broadly weak, Gold -$2, with Silver -0.8%. The related miners are naturally also being impacted.
I was looking for a green candle.. and we now have one.
Regardless of the close (green.. or blue)... momentum is turning toward the equity bears. Stronger equity downside action looks very probable next Mon/Tuesday.
The bull maniacs should start being mildly concerned about the double floor of 2044 holding.
notable weakness: miners, GDX
Dire. Simply... dire.
1.01pm... re: Monday. The daily MACD cycles are offering a bearish cross on Monday.. and that would bode for more significant downside.
Right now... the 200dma will be 2065 next Monday.. and would make for a rather interesting target... along with VIX 15/16s.