2pm update - VIX coiling up

Whilst the indexes continue to see minor weak chop, for those closely watching, the VIX is arguably coiling up for the next surge. For the first time since late 2012, the VIX is comfortably holding the upper teens, with near term upside to at least 22/23, if not 25/27.


vix'60min

sp'60min

Summary

So..yes..I'm really bullish VIX right now at these levels. If we do end up in the 25/27 range in the coming days, no one can say they didn't have ample opportunity to jump aboard, on any of the 'minor pull backs'.

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Notable resistance on index charts - the hourly upper bollinger, which is tumbling down..as the indexes see minor chop.

The bulls should lose ANY hope of a re-break into the 1770s..at the close of today.
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Awaiting TWTR earnings at the close..but infinitely more exciting..the jobs data on Friday.
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2.33pm.. minor chop continues...bulls sure don't look like they can manage the 1760s now.

There is NO more sig' QE for the remainder of the week...bears have a free reign from here.

UGAZ continues to slump... -15%..after being up 20/25% in pre-market.


2.40pm. weak weak weak.   hourly MACD cycle will probably be rolling over into the close.

Tomorrow.. and Friday sure look ugly. Bulls...beware! ;0