sp'60min
sp'daily5
Summary
So, a touch of minor weakness, but certainly, there isn't much downside power right now.
Despite the opening equity declines..VIX is already red. However - without sounding permabullish (gods forbid!), VIX probably needs to cool back into the 18s..at least for a few hours.
VIX hourly
The 20 threshold remains a very tough level to break/hold over.
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Notable mover...STX, which is becoming something of a personal favourite in the tech sector.
STX, daily
Keep on spinning! Ohh, and yes..if the main market unravels..STX will likely put in a double top..at least in the short term. Regardless, relative to the rest of the main market, its under valued by at least 50%
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10.20am.. On the hourly index charts..market trying to put in a spike-floor. Bulls need 1678/80. Underlying cycle looks pretty much exhausted on the downside, at least for a few hours.
On the flip side, who wants to be buying in the 1690s?
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Could turn out to be a very quiet day. Next major thing is the FOMC minutes, Wed' 2pm.
10.50am.. micro-down cycle....breaking 1670 !
Next level is 1667/65