2pm update - exceptionally weak

US equities are seeing a particularly severe reversal of the 'Monday nonsense', having now taken out the Friday close of sp'2077. VIX is still battling hard to break key resistance in the mid 14s. Considering the reversal.. the sp'2050/40s are now on the table... along with VIX 16/17s.


sp'weekly1b

Dow, daily

Summary

*death crosses for the Dow and NYSE comp' today.
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So... there are periodic nano up cycles, but we're set for a significant net daily decline. More than anything though... it is the fact that we saw the Monday gains fully negated.. THAT is very bearish.

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notable weakness: AAPL -4.9% in the $113s...  its getting real ugly in that one.

strength: US bonds, TLT +1.6%... back on track.. after the Monday decline.