3pm update - Tuesday negates Monday

Despite a notable rally from the earlier low of sp'2054, US equities are still set to close broadly lower, with most indexes set to negate most/all of yesterday's nonsense. VIX is still lacking any sustained upside power. Near term target remains sp'2040 with VIX 18s.


sp'60min

VIX'60min

Summary

So... yesterday.. the setup was leaning bearish.

Today.. - from the 5/15/60min cyclical perspective.. its less bearish.. although the daily/weekly cycles are more bearish.

.. if that makes sense?

What does seem clear... until we take out the two soft lows of 2039/33... with a daily close in the sp'2020s... equity bears can't yet get any initial confidence that 2111 is a key mid term high.

I'm guessing 2111 is a key high, but I sure as hell ain't remotely confident yet... and the current price action remains frequently annoying.
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notable strength: AAPL, daily

 yes.. AAPL is net higher... but then it has been due a bounce.. if only for a day or two. AAPL will have serious problems if the sp' loses the 2030s later this week.