11am update - bit of a mess

It is something of a mixed mess in market land. The VIX has been crushed back into the mid 15s, whilst equities have seen follow through to the mid sp'1780s. However, the weekly charts on most indexes are still failing to conclusively show a bullish turn.


VIX' daily3

R2K

Summary

*the two leaders - Trans/R2K, look much the same, still with net weekly declines of -1.5 to -2.0%

Indeed, even the sp'500 is STILL sporting the THIRD consecutive weekly red candle.
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Barring a daily/weekly close back <1770, it'd seem crazy to get involved on the short side at the moment, not least with the VIX failing to break and hold a weekly close >19.50.

Arguably..a market to leave alone, at least for today.

*Yellen is talking to the House/Senate next Tue/Thursday.


11.30am.. Despite the hopes of some...we're just not seeing a morning reversal. Sp' holding the 1780s, and we're now fractionally higher on the week.