sp'60min
VIX'60min
Summary
Well, 11am is a typical turn time.. not least on mornings like today.. those few who were short overnight should at least be tightening their short-stops this hour.
Best guess... the declines will be cut in half into this afternoon, although since its opex... it'll more likely be choppy... stuck in the sp'2085/95 zone.
*Yes, the China market will remain a concern across the weekend, currently set to drop around 5% at the Monday open.
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notable strength: STX +3.6%... on earnings, EPS $1.08... as it continues (like many) to buy back its own stock.
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11.02am.. Dow needs to hold the 17800s... or another 200pts lower.. by late Monday.
If we don't get a reversal higher today, then the key level for next week will be 17600.. where there are lots of recent spike floors.
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11.11am.. tentative signs of a turn... on the micro 5min cycles.
After this mornings surprise drop, is it time one of the fed officials appeared to issue a threat of QE4?