1pm update - broadly weak

Despite some price chop, equities remain broadly weak, with a daily close <sp'2025 very viable. VIX is showing some marginally interesting upside power, +8% in the 17s. The 19/21 zone looks a given.. with sp'2000/1990s. Oil remains choppy, -0.3% in the $47s.


sp'daily5b

sp'weekly6

Summary

It is notable that the fourth blue weekly candle has turned to an outright bearish red.

At the current rate, we'll see a MACD bearish cross late next week... or certainly by end month.
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So... underlying downward pressure.. as the old floor is decisively taken out. The 200dma awaits.

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The bearish fleet!

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stay tuned