11am update - waiting for a floor

US equities are somewhat lower, hovering (on most indexes) around the 100 day MA. VIX is only moderately higher, +3% in the mid 17s. Metals are bouncing, Gold +$5, whilst Oil is +1.0%.


sp'60min

Summary

*I realise some will be getting overly excited at this mornings down wave, but really...the VIX sure isn't powering strongly higher.
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We may have already floored around sp'1954...but for now..I remain a watcher.

I am going to reassess at the afternoon turn time of 2.30pm... maybe we'll have put in a marginal new low around 1950...and then up.


11.22am.. minor chop... sp'1962....with a red VIX

All things considered, still another chance a minor down wave to 2.30pm... maybe a double low of 1954?

I am in no hurry to get involved today..... I think some extra patience will be...useful.