10am update - opening chop

US equities open a little choppy, but leaning (naturally) on the weaker side. The sp'500 has already tested the 2100 threshold, with a new VIX cycle high of 14.50. Regardless of today, market looks very vulnerable into early next week...irrespective of whatever the Greeks do.. or don't do.


sp'60min

Summary

Somewhat messy start to the day... as many are wondering... just what the hell is going to happen into end month.

Seriously though... who wants to go long across the weekend? From a pure cyclical perspective, the daily and weekly cycles are currently bearish... and increasingly so.


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I EXITED an INTC-short at the open.. from $31.25...

Bear flag on the daily chart has been confirmed though...  it remains a short... to the 30/29 zone. Late summer target is 26/25.

In any case.. I'm content... will probably re-short on any bounce.
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notable weakness: coal miners, BTU -11.5%... the week of horror ending... horribly.
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9.59am... short-stop cascade underway.... algo-bots causing more trouble...

VIX turns negative.   13s.... crazy level.


10.35am.. It remains a choppy mess.

Are we getting a 'stupid bounce' into next week... or is this just a tease to the bulls... like yesterday?
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notable weakness:  NFLX -1.3%... rough week