10am update - another mixed open

US equities open mixed. Most notable, a new historic high in the Transports of 8826. There is an arguable minor break of trend on the sp'500. VIX continues to claw higher, +2% in the 15s, first upside target remains the 18/20 zone.


sp'60min

VIX'daily3

Summary

*It is highly dubious if we have a short term high for the sp'500... not least since the Trans just broke a new historic high (strong gains in the airlines).
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Long day ahead....I certainly don't expect a break <sp'2000 until tomorrow at the earliest. My concern is that we'll actually swing higher to the 2040/50 zone as many are currently touting.

Notable weakness, Oil -2.0%

.. which is destroying the oil/gas drillers, RIG -4.7%, SDRL -6.3%.


10.35am.. .sp-10pts @ 2007.... marginally interesting... but really... until elections out of the way... sub 2000 looks... unlikely.

VIX +4%.... in scheme of things... minor.

At current rate.. first real chance of a sig' push higher.... Friday.
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