2pm update - VIX is not confirming the indexes

Whilst the sp'500 fractionally breaks a lower low of sp'1985, the VIX is not confirming it, remaining stuck in the low 14s.Clearly though, equity bears remain in control... and should be seeking a hit of the recent low of 1978.


vix'60min

sp'60min

Summary

So.. a pretty clear divergence, and all those using the C word today need to go re-read what they were posting 5-7 trading days ago.

That didn't work out so well for the equity bears then... did it?
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Notable strength in some of the momo stocks, FB +1.5%, NFLX +0.5%


2.04pm.. another new fractional low... 1984.. and VIX is STILL below the opening high.


2.13pm.. The hourly 10MA.. currently 1991.. remains first upside break level.

Bulls should be content with ANY close >1992 or so.