12pm update - Dow fighting for the 16000s

The mighty Dow is fighting hard to re-take the 16000s. However, equity bulls sure don't have to close in the 16000s...the onus is on the bears to break the bigger trend..which remains to the upside. Arguably, today is day'1 of a new up wave...that might take us into year end.


Dow' daily

VIX,daily3

Summary

*It would seem certain the VIX 8 day climb is over. A weekly close..somewhere in the 14.50/13.50 zone.
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We have a text book back test of the old resistance...now support on the Dow.  I can't think of a clearer example in recent years.
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VIX update from Mr T.



time for lunch :)
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12.26pm market holding the sp'1800s...the idea of a swift reversal from the low 1800s..is now off the table for today...if not...completely.

Notable mover: STX (seagate). +1.9% in the $50s


12.43pm.. Dow making a play...for 16000...bears on the run.