US equities remain broadly weak, with an intra low of sp'2052.. along with VIX 16.65. Hourly index/VIX cycles are set for a clear turn into the afternoon. Market is likely in a floor building process that will occupy the rest of the day. Metals have turned lower, Gold -$2. Oil remains weak -1.4%.
*eyes on the VIX.. unless it can break a new daily high... it is STILL indicating the market is building a floor.
VIX update from Mr T.
time to cook
12.02pm... VIX breaks a new intra high ... yes.. I'm surprised... along with sp'2050.
Regardless. hourly cycles are still set for a turn....
12.14pm.. Viable spike-floor on the sp' from 2049.... bears arguably getting a bonus opportunity to exit... and/or to go long.
We have an interesting afternoon ahead!
12.29pm.. A pretty fierce battle around the sp'2050 threshold. No doubt some will be gunning for the 200dma aound sp'2k.. but really. .that looks out of range
notable weakness, AAPL -2.3%