1pm update - VIX offering equity weakness

US equity indexes have slipped a touch more lower, with sp -5pts @ 2110. The VIX hourly cycle has a clear price gap in the upper 14s. If VIX can hit 14.50/75 tomorrow, it would offer at least sp'2100, perhaps briefly 2095/90 zone. Metals appear to be trading inverse equities, Gold -$4, now threatening a positive close.


VIX'60min

GLD'60min

Summary

At the current rate, the hourly VIX MACD cycle will turn positive before the close.. offering increasing equity weakness into the close.

It would seem a brief foray under sp'2100 is now possible.... but really... it will merely be another level where the big money pile in.

notable weakness, AA, -1.3%

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*With Gold seemingly trading inverse to equities... best guess is moderate strength into the close... and a viable Tuesday gap higher.

In any case, I'll look to re-short GLD.. again.

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stay tuned