1pm update - VIX breaks the down trend

The VIX remains relatively subdued in the mid 13s, but from a technical perspective, it has broken out of the down trend. A daily close in the 14s looks probable... as supported via the hourly cycle. The bigger weekly cycle is offering the 16/17s next week... although that in itself is still a historically low VIX.


VIX'60min

VIX'weekly

Summary

Little to add....

Now it is simply a case of how many of the rats will want to bail into the weekend. Considering the building Greek situation... it could get rather interesting in the closing hour.

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*I've eyes on INTC, which looks set to lose the $32 threshold... if so.. that would make for a bearish engulfing candle.. and would be a particularly bearish setup for next week.
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back at 2pm :)