US equities remain moderately weak, but with another micro cycle lower, the key 200dma of sp'2073 has been decisively broken. Equity bears should now been seeking a weekly close <2070.. along with VIX 14/15s. USD has cooled from earlier highs, -0.2% in the DXY 97.50s.
*baby bull flag on the VIX hourly cycle... has been confirmed. A daily close >14.50 would be useful, and offer 15/17 zone next Monday.. with sp'2040s.
So.. we've taken out a key MA in a leading index... although the Dow has been warning of that all week.
I'm well aware some out there are STILL seeking new index highs in the weeks ahead. Personally, with the Trans/Dow/NYSE comp'... broken... I find such a notion... bizarre.
Targets: Dow 17000, sp'2040s, with VIX 16/17
notable weakness: NFLX -3%
DISCA -1.9%.. resuming the down trend
coal miners, CNX -4%
VIX update from Mr T.
time to see how twitchy the cheerleaders on clown finance TV are...