From Prior Post
OPEN - We are already at the identified range from yesterday. I think we could go lower still. Wait for evidence of a turn.
8:00AM PST - Now testing S1/SPY $93. Next stop $90? -- Just keep watching $93 for now. Dollar is holding up post European cuts. All sectors are very correlated on this drive down and tick is very negative, reflecting trend strength. VIX has rocketed back to 60. Bank of England cut was a shocker ontop of other dire news.
8:30AM PST - Large abnormal volume spike occuring, can often signal a pause -or- turn in price action. Need confirmation before you can trade it and none evident.
9:10AM PST - A "battle" is occuring at SPY $92. VIX still rising to 61. And, break down as volume builds (albeit light overall on the day); see you at $90.
9:40AM PST - Idle speculation, but maybe we'll hold or make a stand at the DIA (S2) and QQQQ (S1) pivots for a bit. We are sitting on those right now. All indicators remain negative, however. I have updated the chart above.
10:15AM PST - SPY $91/S2 in play. Volume overall remains light.
o VIX & More - VIX Nuetrality
11:00AM PST - Trying to peek above downtrend line?
11:55AM PST - As tempting as it looks to buy, be wary of VWAP resistance.
12:25PM PST - Back down under S2; last minute flush before the close to SPY 900? If so, I'll probably carry a little long overnight.
CLOSE - Worst two back-to-back days since 1987.
o Wallstreet Fighter Humor
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