US equities are continuing to attempt to floor, with an early low of sp'1854. Equity bulls really ought to seek a daily close back in the 1870s, but that won't be easy, as the mainstream increasingly start to wonder if a short term peak has already been hit. Metals are holding gains, Gold +$17.
sp'60min
Summary
More than anything, with sig' QE-pomo tomorrow, the issue now is whether the bulls can push back into the 1870s...and hold that into the weekend.
As it is, the VIX just doesn't inspire me to hope for 'bigger bearish things'...at least not this week.
-
Hourly MACD cycle, bears have been in control for just over four days...but they've only managed to knock the market 29pts lower.
Meanwhile..in hysteria land...
PLUG, 5min
A huge 17% bounce...but still a long way down from the $11s. No doubt a lot of knife catchers/bargain buyers this morning. That won't end well.
11.06am... VIX turns red, and something I didn't mention, the opening candle was a black-fail..with a top spike. Bodes badly for equity bears.
11.19am.. Notable weakness: DRYS, -2%, having failed to hold the 50 day MA yesterday.
back at 12pm...or so.