11am update - Dow already loses the 200dma

Whilst the sp'500 has broken the micro double floor of 1988... the mighty Dow has already lost the 200dma. Once the 17k threshold is lost, next support is around 16500, equv' to sp'1920/00 zone. Metals remain weak, Gold -$11.


Dow, daily

sp'60min

Summary

Interesting start to the week...

Weekly charts sure look ugly, now backed up by the monthly cycles... where downside momentum is BUILDING.

Regardless of how we close... some further technical damage has been done today.
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11.01am... typical turn time of 11am.. market trying to spike higher, but the damage has been done. More later.. on the bigger monthly cycles.


11.33am.. first upside resistance.. 2010 or so..... by the close... 2000

Despite the gains... VIX holding above the 20 threshold.