The VIX is a touch higher, but whilst it remains under 20, its really unreliable.
sp'60min
sp'daily5
sp'weekly
Summary
The choppy opening is a real mix. Some stocks are getting a good ramp...BTU, AAPL, but there is some moderate weakness in a lot of other places.
Those bull maniacs seeking for a major move higher this week are likely to be very disappointed.
The weekly cycles - are all going negative MACD cycle, a very bearish start to a trading week.
A long day ahead, seeking general weakness, first target remains a break <1427...which will open up the recent cycle low of 1397.
So, bears should target a daily close <1427, with VIX at least 3-5% higher in the upper 17s.
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