sp'60min
vix'60min
Summary
*AAPL earnings at the close.
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We have breaks of short-term trend on the VIX..and sp' hourly charts.
As ever...it is more important to keep in mind the bigger weekly/monthly cycles - the former of which have now seen conclusive downside breaks.
...updates into the close...and after (AAPL earnings will be kinda interesting to see)
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3.17pm... the following is the semi-bearish outlook...it'd still offer a hit of the lower weekly bol', but not for a few weeks.
sp'daily1b
What is key...ultimate short-side stops will now be 1850, with target downside to the low 1700s.
*VIX back in the 16s....on track for 15/14.50.
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3.30pm.. a little chop around sp'1790...but underlying hourly MACD cycle is due to turn positive at the Tuesday open..so.. we could easily gap open in the 1800s.
The fact there is sig QE-pomo tomorrow should concern anyone still holding short.
3.44pm... looks like we'll be bouncing into FOMC afternoon..and getting stuck around 1810/15.
For the equity bears seeking major downside, a weekly close in the 1780s...or lower will be pretty important. Just need one major down day...Thursday..or Friday.
notable strength: AAPL +1.1%, RIG +2.2% - the latter remains a broken stock though.
3.51pm.. VIX looks set to close -5% in the low 17s...not exactly the big jump some were looking for. The big 20s sure won't be easy..even with another big drop like last Friday.
*AAPL earnings will be released at 4.30pm.
back at the close.