US equities are solidifying a retrace floor of sp'1925... with the market set for another very significant up wave of 5-6% to the sp'2050/70 zone.. along with VIX cooling to the 20 threshold. Once we get past mid Sept' though... things could get real wild on the downside.
*note the bear flag on the VIX cycle.
Continued moderate chop in the sp'1930s....
Overall, it looks a straight forward floor building phase.. before pushing back upward. Whether the excuse is Draghi (ECB meeting) on Thursday.. or 'goldilocks jobs' on Friday... it really doesn't much matter.
We're likely headed up into next week.. sp'2000 looks a relatively easy target.
*I remain long-APPL from the $110s. Its not my ideal entry (I was hesitant in the opening hour).. but it should suffice for a good gain within the next few days.
VIX update from Mr P
time to see what the cheerleaders are saying on clown finance TV. back @ 1pm :)
12.36pm... fractional new intra low.... sp'1925... but VIX still not above the opening high.
I am not rattled... with AAPL 110.50s.