Thursday, 23 July 2015

11am update - chop chop

US equities remain somewhat choppy... battling to hold the Wed' low of sp'2110. VIX remains subdued, -2% in the 11.80s. Despite the chop, renewed equity weakness looks highly probable, with an eventual cycle low of sp'2080, with VIX 15s.




*have been busy with home moving calls..... bear with me..........

So.. a little up wave to sp'2116, with VIX ground back under 12.

All things considered though, I sure don't see many buyers at these levels. From a pure cyclical perspective, we're still due to cool into early next week.
notable weakness: QCOM -3.4%... which is a somewhat ugly reversal from the initial post earnings gains.

strength: AAPL +1.3% @ 126, but after the Wed' drop... arguably, just a natural retrace/bounce.

11.35am.. Something is going on in the miner, FCX -8.4%... HUGE vol'....