2pm update - the two leaders are leading lower

The two leaders - Trans/R2K, are leading the way lower, -1.7% and -0.9% respectively. The sp'500 looks set to lose the 2100 threshold, opening up the lower gap zone of 2080... which in theory.. should equate to VIX in the 15s.


Trans, daily

R2K, daily

Summary

Little to add.

Regardless of any minor bounces... we do look headed for sp'2080.

I'd sure like to see a daily VIX close in the 13s.. at least it'd offer some hope of 14s for the weekly close.. and 15s next Mon/Tuesday.
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notable weakness: miners, FCX -8.3%.    ETF of GDX -2.7%.. in the $13.70s... outlook remains dire.