US equity indexes are set to close lower for the third consecutive day.. with the VIX naturally higher for the third day. Price structure on the hourly cycle is offering a floor of sp'2069.. along with VIX maxing out at 15.39. Oil has built powerful gains of 3.9%.. in the $49s.
So.. a third day for the equity bears... having slipped from sp'2114 to 2069. In the scheme of things though.. its clearly nothing particularly significant.
Notable weakness: INTC -2.3%
3.10pm Market testing the 50dma..@ sp'2067... notably.. VIX not broken the earlier high... at least yet.
3.26pm.. fractional break of the 50dma... sp'2066... VIX still not breaking a new high.
What is clear.. if 2060 fails.. then next realistic support is the 2020/10 zone.. where the 200dma will be lurking next week