Lots of good fib' levels there.
2 sets..the black set covers the assumed 'C wave'...with the blue...the assumed 'wave'2.
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A move to Sp'1240/60 would still allow for a final wave'5 UP into late summer- see bullish outlook post from this past weekend.
NYSE - wedge..almost broken
Pretty exciting to see we're getting close. The key issue will be how powerful the snap lower is when we do break this October low' trend line.
Transports - remains the leader. We now have two good monthly red candles. Doomers need to see a break below the 10MA this month..and keep falling.
The SPY/VIX chart is putting in a great confirmed top
Again, a key level looks to be around 5.0...any move under that..and maybe we'll just go straight down - in the style of last July/August 12 day wave.
VIX ultra bullish- near term
VIX has a gap it might fill Wednesday, before a surge to the 24/26 zone within 3-5 trading days.
Frustrated TVIX holders...hang tight
TVIX is obviously lagging seriously right now. I'm not entirely sure why, but it still looks set to explode to hit 25 within the near term. Hang in there TVIX holders!
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I think that's all for tonight.
*Futures wheel is showing a 0.4% move up.....don't be surprised if we're up 1% at the open, and even a bit more by lunchtime. In my view..its merely a good place to hit buttons and re-short.
good wishes
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