US equities remain moderately weak, with a likely daily close in the sp'1915/05 zone. VIX looks set to close with minor gains.. but still under the Friday peak of the 17.50s. Metals continue to build gains, Gold +$6.
For those long from yesterday (not least yours truly).. today has been a bit of an annoying tease. Opening gains of around 0.5%..but no real sig' upside power.. and hence..another wave lower.
On the flip side..neither are bears displaying any particular power on the downside. Sure..we've broken a new low. but the VIX certainly is not indicative of any real trouble.
Many seem agreed.. we're close to a key low.
As things are... NO decisive turn upward on the hourly/daily charts, and even if tomorrow is net higher.. it offer any real clarity until next week.
3.18pm.. sp'1906..... hmmm its starting to feel like max-pain....
VIX is starting to show some kick +4% in the 17.10s.
17.60s...would be an 'issue'.
3.31pm.. sp'1904... still ZERO sign of a turn.
No doubt... a truck load of long-stops around the 1900 threshold. Mr Market to wash them out early tomorrow?
Fractional break of the Dow 200 dma, although that is not surprising..happened in early Feb.
3.51pm... another day for the bears.... disturbingly close to breaking 1900.
3.53pm.. a vain attempt to close the day with a spike floor on the smaller 5/15/60min cycles.