10am update - opening minor weakness

US equities open a little lower. Hourly equity/VIX cycles are due to turn, and the rest of this week should offer at least some 'weakness into the weekend'. First downside target are the low sp'1850s, with VIX in the 14.50/15.00 zone. Metals are slipping from opening gains, Gold +$7


sp'15min

Summary

I have my eyes on the VIX, I'd like to see a daily close in the mid/upper 14s. Certainly, from a pure cyclical perspective, the bears should push this market lower today, if only moderately.

My only concern is the QE.. as ever.
--
*time for an early lunch...


10.28am.. hourly MACD is rolling over, but at current rate, won't likely see any sig' downside until the very end of today/early tomorrow. Certainly, if the recent wave was a bounce..then Monday would be prime for a major washout drop.

Notable weakness..in the momo stocks. 


10.43am.. weak weak weak.... rolling over... VIX still struggling though.