sp'daily5
VIX'daily3
Summary
... long day ahead....
The cheerleaders on clown finance TV are going to be real upset later today if we're sustainably trading <2070... with the Dow lower for the 7th day
I see little reason why the market won't break lower today. After all, the bull maniacs have seen THREE failed rallies this week... with key breaks in a great many stocks.. not least AAPL and DIS.
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Eyes on bonds....
TLT, weekly
A weekly close in the 123s. or even 124s would continue a climb that will likely last into late Sept/early Oct... and that has bearish implications for equities.
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10.18am.. Price structure on the VIX hourly remains a clear bull flag.. bodes for sig' equity downside today... with a break <2070.
10.26am.... market unravelling... close to a key break.
As noted... eyes on the VIX.... price structure is highly suggestive the equity bears will take full control from here.