10am update - morning weakness

There is some distinct weakness out there, and the market is starting to pull back from the sp'1474. I have to believe a break below the 1451 low will occur later this week, and at least a hit of the first retracement level of 1445/35.


sp'daily5

vix'daily5

Summary

Retail sales data was reasonable, but the empire state survey was lousy. There is plenty of econ-data to come this week, although the really major data is not until the end of the month - inc. Q4 GDP.
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Bears should seek a close of sp<1460, with VIX in the mid 14s. If that's achieved, we should be trading in the low sp'1440s.

I remain short, seeking an exit in those low 1440s.

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another lousy day in AAPL land..

Pre-earnings wash-out move to the 475/450s ?
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UPDATE 10.15am.  Another pathetically weak opening from the bears, with the VIX black candle indeed warning that the declines of barely sp'6pts can't even hold.

Its truly lame, and its only surpassed by those posters refusing to acknowledge the massive strength in the Tranports and the R2K