US equities open moderately lower, but the Tuesday low of sp'2044 looks likely to hold. The smaller 60/15min cycles are suggestive of a floor in the 2060/50 zone by 11am... a net daily gain remains very possible. USD is bizarrely weak, -0.5% in the DXY 96.30s.
*there is a great deal to cover, and my head is spinning today for other reasons... urgh. Maybe I should have bought that bottle of wine in the store just now?
Seriously though.. a wave lower was expected this morning.... now its a case of whether we can close positive.. much like yesterday.
I've eyes on INTC...
So long as it holds the $29s... I'll be content to go long in this hour.
9.59am.. LONG INTC, from $29.40. Maybe I'm a bit early.. but I waited an extra.. having watched it hit $29.09 yesterday.
10.10am.. Well, I was indeed early.. INTC immediate drops another 20 cents to $29.20.
VIX reflecting some notable market concern.. +12% @ 18.06.... equity bulls should want to see that cool into the low 17s.. by the close.
10.26am.. VIX cooling a little.. back into the 17s....
It would seem we have a morning low of sp'2056.. with VIX having maxed out @ 18.34.
*INTC holds the $29s... with a marginally higher low of $29.20.... the $30.00 threshold is viable late today... I can hope.. right?