US equities open significantly lower, but there are a number of reasons why some indexes will likely close net higher today... marking the start of a bounce to sp'2070/80s. VIX has put in an early high of 22.71.. a close in the 18/17s is very viable if sp'2040/50.
*I could highlight a thousand charts this hour... all the momo stocks.. indexes... the giant monthly cycles... its hard to choose!
So.. we opened lower.. but I am still guessing we'll see the sp'500 close net higher. I guess you could call that a crazy bold call, but there are various reasons why we won't break any lower from here.
Something I have periodically highlighted across the last few years...
A red candle on the sp' monthly 'rainbow'... having followed the Trans, and Dow. You don't get a more bearish signal than that.
stay tuned.... lots to come... and as ever... say hello.. if you like :)
time to cook :)
10.09am... the VIX did indeed get a black-fail candle.. and it certainly bodes in favour of the bulls into the weekly close.
Since it is opex... it'll be choppy.. but we do look set to have the indexes turn positive.
INTC appears to be leading the way back up... having already briefly turned green.