sp'60min
VIX'daily3
Summary
*upper bol' on the VIX daily chart is arguably important... and is offering the 17.50/18.00 zone... as early as today... but a little more viable tomorrow. That would be suggestive the sp'2040s are 'briefly' possible.. before the broader upward trend resumes.
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Nasdaq is already red.... rest of the market looks set to follow. It remains possible this could all just be annoying chop for a few days.
What does seem pretty safe to say... sustained trading action (as in a few daily closes) under sp'2050 looks highly unlikely.
Notable weakness...
Energy stocks, CHK, -4.7%... as Nat' gas -4.3%
AA, -4.5%, having made a purchase.
10.44am.. well, so much for the opening reversal.. but still... new lows still seem due... whether late today.. or tomorrow.