As London city - and other parts of the UK, continue to see nano-scale detonations this evening, US equities remain relatively subdued. There is clear trend support around sp'2080, and equity bears are going to need to gap sig' lower tomorrow morning to see any real fireworks into the weekend.
Despite equity price structure remaining rather messy, there is more definitive structure in the VIX, which has clearly broken upward... and looks set for the 17/18s tomorrow.. which is highly suggestive of sp'2060/50s.
.. and I realise many will roll their eyes at the notion of any break under the 200dma... but that IS what the VIX is indirectly suggesting.
notable weakness: QCOM, -17%, entering the next support zone of $50/48
Awaiting key earnings at the close from DIS.
Best guess.. a move lower to at least $108. Any move <106 would break trend, and offer the $100 threshold, before resuming higher into.. and across spring 2016.
Broadly.. I remain absolutely bullish DIS.. not least via the Marvel/Star Wars franchises.
It has been a long time coming...
back at the close....