Well, that was a pretty ugly closing hour for those on the long side.
A classic fail at the 10MA on the hourly., ending with bear flags on the indexes, and a bull flag on the VIX.
SP'60min
IWM 60min
VIX 60min
-
Summary
The bulls had a chance to get a ramp in the closing hour, with a close over the important hourly 10MA.... they FAILED. It looks like we'll now get a move down to sp'1375/70 early Tuesday. Maybe we'll floor there, but it could just as easily keep going.
More later in the evening.
A classic fail at the 10MA on the hourly., ending with bear flags on the indexes, and a bull flag on the VIX.
SP'60min
IWM 60min
VIX 60min
Summary
The bulls had a chance to get a ramp in the closing hour, with a close over the important hourly 10MA.... they FAILED. It looks like we'll now get a move down to sp'1375/70 early Tuesday. Maybe we'll floor there, but it could just as easily keep going.
More later in the evening.
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