3pm update - a third day lower, but nevermind

US equities are set to close lower for a third consecutive day, lead by the Trans/R2K. The sp'500 is set to lose the 2100 threshold... with 2080 increasingly probable... along with VIX 15s. Despite the USD -0.5% in the DXY 97.10s, metals are still unable to rally, Gold -$3, with Silver -0.9%.


sp'daily5

GLD, daily

Summary

An interesting... if somewhat subdued day.

Clearly.. near term remains weak.... and VIX is not going to start spiking until 2100 is broken below.

After all, I see plenty of talk of a bounce first to 2110/15 zone. Its possible, but momentum IS swinging toward the bears.

*awaiting with interest - from a pure entertainment perspective, AMZN earnings. The Monday closing candle is warning of a post earnings smack down.

I'd sure not be long... but then neither would I short that nonsense.. after seeing the market ramp it many times across the last few years.. despite persistently trashy earnings.

Best guess... 420/410... but as noted, I ain't meddling in it!

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updates into the close... unless I fall asleep


3.12pm... .. and there goes sp'2100... VIX set for the 13s


3.41pm.. Well, a minor bounce to 2102.. .but still, its a clear fail of the 50dma.. and 2100.

2080 tomorrow?   hmm