10am update - opening weakness

US equities open a little lower, but for now.. there is clearly no sig' downside power. Hourly equity cycles are offering a bearish MACD cross this afternoon... with a daily close in the 2105/00 zone. VIX remains remarkably low, +2% in the mid 13s. Oil is notably weak, -1.3% around the $60 threshold.


sp'60min

VIX'60min

Summary

As things are... bears have a better chance of sustained downside from 2pm onward.

I'll certainly be looking for some of the rats to sell into the weekend. After all... even the most bullish out there have to acknowledge the worsening Greek situation.

The extra $3bn of liquidity to the Greek banks this morning is barely enough to keep the game going for another 2-3 days.
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*I've eyes on INTC... opened higher.. now a touch red, and remains within a bear flag...