US equities open with some minor chop, with the sp +3pts @ 2087. VIX remains subdued in the mid 13s. Equity bears should be seeking a break <sp'2070.. with VIX 15s... which will offer renewed clarity that the sp'2040s are coming.. with VIX 17s.
*the fourth consecutive green candle on the VIX chart... a break back above 14.50 will be a key signal.
A pretty dull open... now its case of whether today turns into a holding pattern day... or building weakness into the weekend.. with follow through downside next Mon/Tuesday to sp'2040s.
Best guess... well, I'm long-VIX.. so you know what I'm seeking.
time to cook...
10.06am Consumer sent' 92.9.... a little lower, but still... on the high side since late 2014.
Eyes on TLT, currently a touch lower in the $123.50s.... equity bears are going to need 125s to see new cycle lows.. and clearly.. that now looks out of range until next week.