2pm update - market sure feels tired

Despite underlying upside pressure - as clearly displayed with the Transports in the 7000s today, this market sure feels tired. Another minor wave lower to the sp'1735/30 zone looks increasingly likely into tomorrow, when there is no QE for the equity bears to be concerned about.


sp'60min

Summary

The price action really does look primed for a little wave lower into early Friday.

An obvious gap fill in the low sp'1730s would make for a good early morning low, before some sort of a minor recovery into the Friday close.

For now..that remains my best guess.
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VIX remains very low, but is offering a turn higher, and suggestive of equity weakness.

VIX could briefly spike into the 15s, which would equate to sp -15/20pts.


2.36pm.. sp'1752, at the high of the day. Still though, price action is suggestive of a tired market.

*AMZN, ZNGA earnings at the close...certainly worth watching!