US equities remain moderately weak, with the sp' making a play to test the rising trend - which at the close of today will be around sp'2072. Metals remain weak, Gold -$2, whilst Oil remains broadly weak, -1.8%. Trading activity will likely be pretty high into the quarterly close.
*VIX did break above the morning high.. next level are the 15.50s.
Well, its been a pretty choppy opening quarter to the year. Yes.. the bears will see a net monthly decline, but the equity bulls have managed a net quarterly gain (>2058).
Notable strength: TWTR +1.7%
If we can break <2070.. then I realise many will be calling the recent rally from sp'2045 to 2088, a B or 2 wave... there are some interesting downside scenarios with that.
... updates into the close.. not least.. if market can take out rising trend.. although that is seemingly unlikely.
3.17pm... Some drama.. as market BREAKS rising trend..... sp'2070... VIX confirms the move.
Door is opening to more significant downside...... as Q1 wraps up.
3.23pm.. So... break of trend.... VIX confirming the move.
Things really get interesting on a move <2060.... which open up 200dma in the sp'2010s.
In any case.. at least today is ending with some price action!.
Notable weakness: AAPL -1.4%
3.36pm... sp'2068..... VIX confirming the downside break..... its looking real interesting for Wednesday.