US equities look set for the first significant net weekly decline in six weeks, with a viable close in the sp'2060s.. along with VIX 16s. Metals remain in collapse mode, Gold -$29. Oil has failed to hold the key $50 threshold, holding rather significant declines of -2.5%.
*at best.. we might see VIX 17/18s next Monday... but that does look difficult. In any case.. we're close to target.
So... a somewhat exciting end to the week... with some rather dynamic moves all over the place.
The original target of 2065 looks set to be hit.... and it could be by the close of today... if not.. then next Mon/Tuesday... at which point... .up we go again.
However, I just can't see this as anything other than a minor retrace... as was expected.
Notable weakness: energy stocks, CHK, -4.9%, BTU -4.3%
miners, GDX -6.7%
updates into the close...
3.09pm... a micro bounce to sp'2074... but really... look for the rats to sell in the closing 10 minutes... could be real fun.
3.38pm.. Rats are getting real twitchy... sp'2068.... VIX still relatively subdued.. and that is why I'm resigned to no lower than 2050 early next week.
The ECB QE-pomo train arrives next Monday morning................... bears.... beware!