sp'daily5
vix'daily3
Summary
*focusing on the bigger daily charts this hour....
So..we're lower..there remains threat of small bounce, but the damage has been done.
The daily candles are VERY decisive, not least the indexes.
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I remain short the market via .. VIX-long, seeking the 17/18s within next few days.
*will probably pick up a SPY put block on ANY bounce.
2.13pm... high risk of a minor snap higher in 10/20mins...upside to 1855 or so.....bears beware!
2.24pm.. Bulls just need to break 1848..to snap it to 1855 or so.
I do expect weakness after 3.30pm...
VIX cooling down a little, but the break into the upper 15s is a good sign.
2.36pm.. bulls can't break >1848..and we're seeing renewed weakness...
Could be a real train wreck..if <1837...in the closing hour.
I continue to sit back..holding VIX... and right now...hopes of a bounce..fading..but thats okay.