3pm update - weak chop into the close

US equity indexes are set for minor chop into the close... leaning on the weak side. Broadly, it has been a nothing day... as the market is still battling it out. The bigger weekly/monthly cycles are clear though... about where we are headed.


sp'60min

VIX'60min

Summary

*the smaller 15/60min cycles are arguably on the high cycle.. and due another sig' down wave.. starting tomorrow.. and perhaps lasting into the Friday close.
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A particularly frustrating day...  and barring a surprise apocalypse before the close....   I will return at the close.
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*I remain holding a quartet of short-market positions... and will likely hold across tomorrow.. and into late Friday.

2pm update - utterly tedious

Equity indexes are back to flat.. on what is one of the most tedious days in months. Few buyers.. but even fewer sellers. Notable weakness in Oil, -2.7% in the $44s, having seen a powerful reversal from an early high of the $47s.


sp'60min

USO, daily2

Summary

re: Oil, bearish engulfing candle.. soft trend break... there is nothing good there..having failed a few times in recent days to break into the USO $16s.
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As for the broader market... nothing to add.

I'll be glad to move on to tomorrow, It can't be any worse? Ohh, but there is the Yellen of course, tomorrow evening. Would she threaten QE4 'if conditions make it necessary?'
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back at 3pm

1pm update - market is struggling

The early morning gains to sp'1949 now seem a long way up, as the market is clearly struggling. A great many individual stock charts - DIS, INTC (its a long list) are warning of a major problem within the next 2-3 trading days. VIX is so far showing no concern, broadly flat in the 22s, but with viable upside to 26/30 by Friday.


sp'daily5

sp'weekly6

Summary

Question of the hour...

Which part of the last six weeks is even remotely similar to the price action of Oct' 2014?

This is no V shaped drop.  This is a CORE BREAK...  chop under old support.. with another major wave lower due.
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yours.. still short... and trying to be patient