US equities open weak.. and continue to unravel. There is some soft support in the 1915/10 zone. There is threat of minor bounce into the afternoon (as usual)... with the Yellen appearing... offering a brief opening Friday gain... regardless.. broader trend is clear.
*bear with me.. I am adjusting trading stops!
EXITED INTC-short, SPY-short. from sp'1915.
So.. opening weakness... nothing too exciting... but it continues the broader trend.
*I am holding AAPL-short... VIX-long... both are still a touch underwater (my entrys were not so great).. but I can stomach holding them across any intraday bounce.
If I can drop AAPL by 11am for a minor gain... I shall.
10.07am... HUGE TV event of course.. as the Pope addresses US congress .. at the rather bizarrely early time of 10am.
Equities remain in melt down mode.. sp -20pts @ 1918.... a floor around 11am does look probable.
10.11am.. a Solid opening candle for the VIX.
By the close.. we could just about see VIX 27s.... but that would equate to sp' <1900
10.25am.. So.. I've eyes on the VIX, hourly charts offer 27s today... with 28/30 by the Friday close.
I remain LONG-VIX.. and SHORT-AAPL.
*I will consider a SPY re-short.. on any 'nonsense' bounce. whether this afternoon.. or early tomorrow.
10.34am.. a little chop... market trying to hold soft support around 1915... but really... another wave lower to 1905/00 looks probable today.
notable weakness: INTC -2.8%... but I dropped that one earlier.