sp'60min
VIX'60min
Summary
*I remain long-VIX from the 17.30s... would consider an exit in the 19s... certainly by the Friday close.
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So... a little weakness... and the recent downside target zone of 2025/20 remains viable by the weekend, although it sure is taking longer than expected.
With 2hrs still left of the trading day, there is plenty of time for the market to unravel.
Notable weakness, oil/gas drillers, RIG -5%, SDRL -4%... see 'fair value' page for more on those two.
2.04pm... First target on VIX is 18.00... I'd settle for any daily close in the 18s... but 19s are viable... if sp'2045/35.
2.12pm.. It would appear the market rallied on a news report that there is a renewed ceasefire agreement for the Ukraine. Yeah... that is clearly working out just fine for those locals as the chemical plants light up at night like a tactical nuke or MOAB...
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stay tuned