12pm update - weakness into the afternoon

Equities appear to have a short term cycle peak of sp'1826, with a VIX low of 14.02. Hourly index/VIX cycles continue to support the notion of a minor retracement, down to 1800/1780 - with a VIX of 16.50/17.00 by Friday.


sp'60min

vix'60min

Summary

Well, things look reasonable for increasing weakness into the late afternoon. What will be interesting is what sort of micro bounce we get sometime tomorrow.

Primary downside target of 1800/1780 will be increasingly difficult...the longer it takes the bears to push this nonsense lower.

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VIX update from Mr T.



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time for tea