Tuesday, 11 August 2015

11am update - remaining broadly weak

US equities are seeing a little chop, but remain broadly lower, having already hit sp'2086.. with VIX 13.38. Indeed, VIX remains relatively subdued, and a daily close >14.50 remains absolutely necessary to give clarity and confidence to those seeking continued market weakness in the near term.. and across September.




*we've an outright green bullish candle on the VIX, first resistance are the mid 14s. Any break >14.50.. and the market will spiral lower.

Not surprisingly... we're seeing some chop... but we sure ain't seeing the dip buyers yet.

For today, I think it is merely a case of seeing how we close.

notable weakness: AAPL -2.6% in the $116s.

Price structure remains a bear flag, having maxed out around the old broken floor of $119s The big $100 threshold remains an obvious target.

11.14am.. New lows.... VIX is pushing for the 14s.

As noted... what would really matter is a daily close >14.50.