2pm update - VIX maxed in the gap?

Another minor wave lower, and the VIX has finally broken into the 15s again, where there is a very clear gap zone - equating to sp'1850/45. Equity bears really need a daily close in the low sp'1840s to offer hope that the market is going to break the broader upward trend.


sp'60min

vix'60min

Summary

*rather than pick up an index-long, I went LONG DO (Diamond offshore) a little earlier.
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So...VIX has reached the gap zone in the low 15s. I suppose sp' could still hit 1845 or so, whilst the VIX churns sideways.

Regardless, price action in my view is just not particularly bearish. Certainly, VIX in the 15s is nothing for the doomer bears to get overly excited about.

Stay tuned.


2.10pm.. market threatening a reversal from 1850, with a second floor-spike hourly candle.

Notable strength remains.. AAPL +2%, as many recognise the split, and a likely Dow inclusion will lead to much higher levels.


2.25pm.. Equity bulls making a play to push this nonsense back up...bears could be in real trouble now.

VIX appears maxed right at the gap zone of 15.20s...already back to 14.50s.