I'm still bullish this morning on the basis that we had a confirmed Vix Buy Signal for equities at the end of the last week, and that we haven't yet reached the 1243 SPX target on last week's diamond bottom. Having said that, the trend is down, and this rally is a counter-trend move, so any surprises are likely to come from the downside, and all bull setups have a higher chance of failing.
We didn't see any serious support levels broken yesterday on equities, but I'm more concerned than I was about the rising wedge on NQ, which is of reasonable quality. Rising support is at 2183 and an hourly close below that would look very bearish:
