3pm update - nothing of significance

Despite continuing weakness across the afternoon, it remains the case that equity bulls have little to be concerned about. VIX is reflecting such an outlook, as it is showing no market concern, u/c in the mid 13s. Oil and Gold are both holding minor gains.


sp'60min

VIX'daily3

Summary

Another pretty dull day.... although there are very notable gains amongst many of the momo stocks - such as TWTR +6.2%, but more on those.. after the close.
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As for the broader market... I can't see the recent retrace low of sp'2085 being held under, not with price action as we are currently seeing.
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3.30pm... a renewed micro wave lower.. .sp'2094.. but still... are some really getting overly excited over a net drop of -0.5% ?

It is notable that with sp -10pts, the VIX is only +0.5%.... the latter is the tell.