10am update - bulls need to whipsaw higher.. and fast

US equities open significantly lower, already breaking the sp'1900 threshold. From a pure cyclical perspective, the market is now on the low end, and is due a rebound, but until a daily close >1930, the bulls should be very concerned another key lower high (1946) is already in.


sp'60min

VIX'60min

Summary

So.. a pretty bearish open, but still... I don't see a straight run <1810 from here. Maybe I'm just in love with the upside? Gods help us all !

Seriously though... I'm not chasing this lower... the weekly cycles do NOT support the notion of breaking <1810 in the short term.

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*I'll boldly throw this one out there...

sp'60min'3 - H/S formation

I'd agree its already 'borderline'.. and any price action much <1890 would trash it.

However.. if the market can stabilise this morning, then we're still headed close to 2K.. and that would really cause MAX confusion for the mainstream.
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time for some sun.... back soon.
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10.40am.. provisional floor from sp'1891... but I'd agree.. it sure is pushing it for those still looking for upside to around 2K.