12pm update - moderately weak

US equities remain a little lower, with the hourly equity cycle offering first opportunity of sustained downside in the late afternoon. VIX remains very subdued in the low 13s, the bigger weekly cycle is offering 16/17s early next week. USD is a little higher, +0.2% in the DXY 94.20s.


sp'60min

VIX'60min

Summary

*I picked up a VIX block in the past hour... VIX 12s are crazy low.. and a move to the mid/upper teens looks viable next week. I've Oct' calls, so the ticking detonator clock is not a concern. I can sustain 11s.. even 10s, without being rattled.
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Overall, it remains a very quiet market... although it is quad-opex.. so we should see increasing price action as the afternoon proceeds.

From a pure cycle perspective, the hourly equity/VIX cycle are warning of market weakness into the weekly close.
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VIX update from Mr T. 


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time for lunch


12.26pm.. VIX has broken the down trend....  13.52... and rising. A daily close in the 14s would be... useful.

Yours... short INTC.. and long VIX.