SPX met neckline resistance near 1912.00 and has been repelled near the Fibonacci 50% retracement level at 1912.35. Apparently there were a significant number of stops at 1910.00 that attracted the Algos.

The algos appear to be spinning their wheels at 1916.50, which may be the top of this retracement. Selling pressure appears to be settling in.

This may not be the exact high, but the reversal may be quite strong.

TNX is making a hasty retreat from its Premarket highs as the selling pressure in equities appears to resume.

VIX appears to be bouncing from its 2-hour mid-Cycle support at 24.30. It also made a near- 50% retracement before resuming its uptrend.

The NYSE Hi-Lo Index lunged at its daily mid-Cycle resistance at -14.75, but fell short. It appears to have been repelled by its Bearish Flag trendline instead, at -24.00. The number of new 52-week lows appears to be increasing, showing weakness internally.

Regards,

Tony

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