12pm update - chop chop

US equities remain moderately weak, with a floor sp'1954. There remains viable downside into mid afternoon.. but a double low seems very possible. VIX is not suggestive of further significant equity falls.. certainly, the 1920/00 zone looks well out of range.


sp'60min

vix'60min

Summary

*price structure is currently a wedge. Suggestive of upside into the Friday close.
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Hourly MACD cycles for both VIX and equities are yet to show a definitive turn... and that is primarily why I am still in wait and see mode.

For now, I will reassess at the typical turn time of 2.30pm.
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VIX update from Mr P.


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time for lunch


12.31pm... Just reflect on this....  Dow -170pts... VIX +1%....

Which one is telling you the real story here?