11am update - morning chop

The indexes are mixed, sp'500 having fractionally broken a new high, but the R2K and Nasdaq both turned red. VIX has given an opening reversal candle, which is typically suggestive of a floor, but its opex, and with a new sp'500 high, the bulls are unquestionably in control.


vix'60min

Nasdaq, daily

Summary

A bit of a mixed mess. I guess the tech' bears are having a relatively okay morning, with declines of -0.2% or so.

The two leaders - Trans/R2K, certainly remain stuck as they have done for the past few weeks.
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So...what now?

I remain primarily focused on the VIX, and that opening reversal, but VIX is back on the slide this hour...with indexes trying to push higher again.
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Notable movers: BTU +2%, STX +3%,     whilst UGAZ -4.5%


11.24am.. so much for the opening VIX reversal..itself.. reversing back to the opening low.

Barring a latter day fall, with sp <1870...the weekly cycles will all close strongly.

No doubt, much of the serious short-side money got out at the open.


11.41am.. the opening VIX reversal..complete fail...to new lows.

Trans/R2K pushing upward, if those two break new highs today..then none of the serious bear money will be still in.