10am update - opening weakness

US equities open moderately lower, marginally breaking yesterdays low, so far hitting sp'2090. With concern over a viable new cycle low for Oil, and the unresolved Greek situation, there remains high opportunity for a move down to the 50dma in the sp'2040s.


sp'daily5

VIX'daily3

Summary

*opening black-fail candle on the VIX.. there have been a fair few of those lately. Again, it doesn't bode well for the equity bears.
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So... we open a little lower, but again.. its nothing significant. Having ramped 6% from sp'1980... it remains incredible how the market 'struggles' to hold -0.5% or more.
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Energy stocks are particularly weak (not surprisingly)...

RIG/SDRL, both lower by around -3.5%
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Notable strength: airlines (on lower Oil), DAL/UAL, higher by 3% and 4% respectively.


**awaiting the EIA oil report at 11am.
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11.11am... Oil surpuse was 7.7 million .. Oil has managed to claw back upward, -3%.... and this is certainly helping equities.

Metals remain weak, gold -$3