Wednesday 1 October 2014

12pm update - chop chop

US equities remain moderately weak, with a floor sp'1954. There remains viable downside into mid afternoon.. but a double low seems very possible. VIX is not suggestive of further significant equity falls.. certainly, the 1920/00 zone looks well out of range.


sp'60min


vix'60min


Summary

*price structure is currently a wedge. Suggestive of upside into the Friday close.
--

Hourly MACD cycles for both VIX and equities are yet to show a definitive turn... and that is primarily why I am still in wait and see mode.

For now, I will reassess at the typical turn time of 2.30pm.
--

VIX update from Mr P.


--
time for lunch


12.31pm... Just reflect on this....  Dow -170pts... VIX +1%....

Which one is telling you the real story here?