2pm update - another bounce attempt

US equities are attempting to turn green again, but equity bulls should be somewhat cautious until the earlier high of sp'1928 is broken. What is clear today, price action remains relatively muted, with a VIX that has again turned red.


sp'60min

Summary

*I realise a fair few out there are seeking much lower levels, not just <1900, but the mid..even low 1800s in the near term.

Price action.. at least to me, does not in any way support that.

Unless we see a truly scary story across the news wires - such as Putin ordering an invasion of Ukraine...the equity bears are facing a market that is due to cycle back upward.

Notable strength: NFLX, +4%... so..everything is fine...yes?


2.32pm... another nano wave lower.... looks like we'll probably take out the earlier 1908 low.

A pre-opex Thur/Friday low... once again...it would seem.