12pm update - daily cycles still warning of minor weakness

Whilst equity indexes have turned marginally positive, the daily cycles remain slightly in favour of the bears. However, the VIX is still failing to display any upside kick/power. Metals are holding moderate gains, Gold +$6. Energy prices are mixed, Nat 'gas -0.7%..  Oil +0.8%


sp'60min

Summary

Unquestionably... a frustrating morning.

A marginal break of the daily 10MA... but unable to break under 2040.

This is why even though I'm STILL seeking a retrace... it has to be asked... with price action like this.. how are we going to go much below 1980/50?

Notable strength: BABA +2.4%. having swung from 107 to 112... although remains in a short term down trend.

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VIX update from Mr T.


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time for tea... back at 2pm.