sp'daily5
vix'daily3
Summary
Opening black candle on the VIX, double top on the daily?
VIX has so far failed to break the Monday high of 18.99. Until that is achieved..equity bears need to be highly cautious...and tighten those trading stops!
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So..we're lower, and typically, we'll see a secondary minor wave into 11am.
If market has not broken <1765 by late morning....the bears should be looking to make a run for it.
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VERY busy day ahead...and with $5bn of QE... the market is to be treated...carefully.
10.05am..such a marginal situation. Problem remains..VIX not in the 19s...bears face major threat until that threshold is broken.
..and as is always the case..bears are battling against the clock. QE money will be kicking in soon.
10.17am.. tick tock...tick tock....bears running out of time. VIX still not >19.
Notable mover: CMG +14%..on very good earnings. Net margins of 10% or..which puts AMZN <1% to absolute shame!
10.29am..This is prime time for the bears...to break <1770..with VIX 19s... arguably, window of opportunity closes in the next 30/60mins.
10.36am..renewed VIX gains...almost there.........
10.43am Bears just still unable to break 19s.. anyone still short...surely should be tightening stops further here. $5bn of QE money out there today....bears got to keep that in mind.
Notable weakness: AMZN -8.2%.. so far..unable to see the usual post earnings recovery bounce.