US equities remain weak, yet cyclically, we're still set for a sig' bounce.. at least to the sp'1975/80 zone. VIX has not confirmed the marginal equity lower low. Oil remains severely weak, -5.0% in the $31s. Copper is $1.97, the 1.75/50 zone looks an easy target for the spring.
*I have not mentioned it today (and I'm guessing many have noticed it anyway), but despite a marginal new equity low... the VIX did NOT break a new cycle high.
.. and that does not bode well for equity bears who are intending to hold short the market across this week.
Holding to outlook of an upside bounce... despite the current price action not looking so great.
As for 'excuses', equity bears/VIX longs, can have NO excuse for any whining later this week if we're climbing into opex.
Friday was a valid time to exit.
This morning was a valid time to exit.
Right NOW is a valid time to exit.. or at the very least... tighten stops!
1.15pm.. So much for 1913 holding..... with sp'1910.. VIX still not broken above the Friday high.
notable strength: NFLX +1.8%...