11am update - VIX in melt mode

Whilst the main market is holding minor gains, there is notable weakness in the VIX, which is in classic 'holiday melt mode', already -4% in the mid 15s. The sub teens look an easy target by year end. Meanwhile, energy remains weak, Nat' gas -7.6%, whilst Oil -3.6%.. but the latter is holding last weeks low.


VIX'daily3

USO, daily'2, rainbow

Summary

*a fifth blue candle for Oil. I could understand some would call price structure a bear flag, but I believe Oil is merely building a floor.
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Little to add....

The hourly equity cycle is suggestive of weakness into early tomorrow... so.. those looking to buy.. probably have a better opportunity tomorrow.
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time for an early lunch