So, we're set to open a little higher, and it won't take much to get a little follow through to at least 11am.
*I will look to short the market around 1978/80 this morning, once the smaller 5/15min cycles look maxed out.
Target downside is at least 1950/40 next week, although as many recognise, the 1920/00 zone is possible... with price action as it is.
A daily close of VIX >17.50 would be VERY significant, and be the first weekly close above the 200MA since late 2011. It is certainly something I'd like to see to end this week.
Good wishes for Friday trading.
8.31am Q2 GDP (rev'2) 4.6%, inline with expectations... the highest growth rate since 2011.
Indexes holding moderate rates.... it sure looks like we'll be testing 1978/80 by 11am.
8.39am.. Bill Gross leaves the giant bond company... PIMCO for Janus.... hmm, interesting little story. Clown finance TV are going to be obsessed with that for much of today.
9.35am... sp'1970.... another 6-10pts to go....
Eyes to the ViX... will be watching for that to level out in the low 15s.
Opening BLACK-fail candle for the VIX on the 5/15min cycles....bears beware...
It is certainly suggestive we'll build equity gains this morning.
9.43am.. minor chop... VIX a touch higher, but nothing for equity bears to get excited about.
I think its a case of lets see where we are at the typical turn time of 11am.