Closing Brief

Another dire day for this sick nasty market. All micro and larger cycles remain bearish. At some point this market will snap up for a multi-day rally. The problem is what level does that occur? 1300, 1290, 1270? One important aspect is that we've not seen a single day yet where there has been any significant selling, or where the VIX has spiked.

This was day'12 in the current down cycle, and makes it of equal length with the July/August collapse wave of 2011.


Sp'60min

Dow'60min

IWM'60min

Vix'60min

Summary

Just another bad day for the bulls, and once again...a very weak close.


Big dumb Bear

My expertise lies with the large multi-month, even decadal cycles, along with a good background in macro-economics. However, yet again, it is absolutely clear, as a trader...I suck. I've pre-empted the current down cycle, and have gone long before the market displayed a clear snap/break higher with a close above the 10MA, a truly stupid decision  I can only hope a bounce begins soon, at least to 1350, or my hopes for a good summer are over.

Yeah, its come to down 'hope'..which is never a good sign. I am sure most of you out there are doing better than yours truly.

PD.