3pm update - net weekly declines

All US indexes are set for rather significant net weekly declines. With huge technical breaks all over the place, the near/mid term picture into Sept/Oct' is increasingly clear. Regardless of the exact close, it has been a week of repeated failed rally attempts by the bull maniacs.


sp'daily5

VIX'daily3

Summary

Suffice to note, a week where the market kept trying to rally... and failed.

In theory, there should be at least another wave lower in the closing hour.

I'd like to see a weekly close <sp'2070... but considering we were trading 2112 on Wednesday, I'll settle for anything right now.

*I will hold long-VIX and short-INTC across the weekend... seeking better exits.

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back at the close