3pm update - stop the boat

It has been a real battle in the US market, with an intraday decline from sp'2112 to 2097. From a pure technical perspective, bears should be desperate for a daily close under the 2100 threshold. VIX is set for a net daily decline, but even the mid 12s would be well above the morning spike low of 10.88.


sp'60min

VIX'60min

Summary

A rough day... but more so.. for those in Disneyland.

Very difficult to call today's close. The smaller hourly cycles have potential for the equity bears, but there is no definitive MACD bearish cross yet... and that does not look possible in the closing hour.

*awaiting earnings from TSLA at the close. Another loss is expected, but hey.. that must be good for a 10% AH jump? After all, when do momo/hysteria related stocks need profits, its 2015 after all.

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Wonka sums up today...


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back at the close