Many are no doubt feeling like they are in a washing machine on spin cycle. Yet for those watching the various time cycles, there is some degree of clarity right now. Moderate weakness into the early afternoon, with strength across the next few days.. but broadly bearish on a multi-week/month basis.
Well, its 11am.. which is a typical turn time.. lets see what kind of weakness we can get into lunch time... and the 1pm hour.
notable 'weird' action in XIV (1x short VIX), which despite the VIX (-21%), is only +0.9%.
Yes, I realise its due to some kind of futures-structure issue, but still... its surprising.
meanwhile.. TVIX/UVXY -14%... and that is not surprising.
I continue to have eyes on AAPL.
For now.. there is no hurry.. I'd prefer a moderate long entry from 106/105.. this afternoon.
11.15am... Hmm, new morning highs to sp'1942.... with AAPL $109.. oh well.... I ain't buying at that price...or this time.
notable weakness, Gold -$18.. with the miners following, GDX -3.1%