US equities are moderately weak, and look set for further declines into the daily close. Regardless of whether the 200dma (sp'2055) is broken by the close, the 2040/30s look due tomorrow.. along with VIX in the 20s. USD +0.2% in the DXY 96.30s. Oil is in collapse mode, -6.9% in the $52s.
*Best case for the equity bears in the immediate term remains the giant 2K threshold - as seen most clearly on the weekly cycle.
notable weakness: INTC -2.2% in the $29.80s.... fast approaching target of the low $29s.
..updates into the close...
3.12pm.. chop chop.. sp'2062.. VIX 17.90s..... another wave lower still looks due.
notable weakness: Oil, -7.0%
3.33pm... a minor short-stop cascade.. sp -10pts @ 2065.
It remains the case that VIX rapidly cools on any kind of equity bounce...
3.44pm... time to roll lower again.... sp -11pts... VIX +5% in the 17.60s.