sp'60min
sp'daily5
Summary
*VIX opens lower by around -6%, but it looks set for the 25/27s..when sp' is testing the 200 day MA @ 1708..and rising each day.
-
The bigger weekly cycles are what most should be looking at. As ever...'don't get lost in the minor noise'.
Notable mover: UGAZ +18%....so Nat' gas prices +6%. I guess its still cold? Urghhh
-
9.54am... and the market jumps into the 1750s....
Another re-short opportunity..very viable..today....with a clear 40pts of downside.
After all, who wants to go long here, seriously?--
Arguably, ideal level for a re-short...back test of the recent bear flag...1770..but that seems just a little out of range. More likely 1760/65..and then another rollover.
10.01am.. Factory Orders -1.5%...not great, although that was for the Christmas/holiday season.
VIX -10% in the low 19s....that is going to be an attractive level soon.
10.09am Best case for the bulls..a bounce to 1760/65..by 2pm..and then a late afternoon rollover. Considering the current gains..a red close still very viable.
VIX holding the low 19s.. just over the old double top
Interesting level for VIX calls...after opening index gains.
10.25am.. minor chop..mess.
Well, anyone out there is getting a chance to go long VIX in the low 19s...with sp'1745/50.
*the overnight drop in Japan..pretty significant..I'll cover that later though.