sp'60min
Summary
So..to be clear...
high probability of a short term bounce..all the way to the 1810/15 zone.
However..even more important..we have confirmed breaks on the bigger weekly cycles.
--
A re-short in the 1810/15 zone by late Wednesday would make for a particularly easy trade, considering the breaks in the weekly charts.
-
Notable strength: AAPL +$4 @ 550...with earnings at the close of today.
-
VIX pullback zone (if bounce to sp'1810/15)..would be 15/14.50.
-
2.16pm..a break >hourly 10MA..1790..will break the 3 day down trend...but it sure won't do anything to negate the bigger down turn on the weekly charts.
Metals are slipping away - as the market bounces... Gold -$13