sp'daily5
VIX'weekly
Summary
*again, a reminder of the bigger VIX weekly cycle.. which shows next resistance is not until the 20/21 zone.. having taken out the 17s this morning.
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Well, an interesting start to a short 4 day week. Regardless of the exact close... a clear victory for the equity bears.
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No doubt... a time to go long is coming sometime soon... but for now... I'm content to watch and see how low we might go in the near term.
notable weakness: USD -0.7% in the DXY 94.80s... as the central banks 'meddle'.
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... updates into the close...
3.12pm.. sp'2065... VIX almost in the 19s... the big 20 threshold will be viable at the Tuesday open.. not least if the sp' is testing the 200dma of 2053. That'd make for a natural bounce zone.. if only for a day or two.
3.18pm.. the overnight futures low of sp'2060 is about to be taken out... along with VIX 19s.... pretty impressive.
Oil -2.3%... I will consider going long Oil across the next few days. if only for a short term day trade, not least as the USD is set to cool to the DXY 92/90 zone.
3.29pm.. notable weakness , INTC -2.0% in the $30.40s... should floor around $29.00 in the current cycle.
sp' -37pts @ 2064.. with VIX 19s hit.
3.40pm.. market battling to hold the overnight futures low of sp'2060....
Here is something... market is now well within range for a straight gap under the 200dma of 2053 tomorrow morning.... and any break <2050... opens a 'fast ride' to 2K.
... could get exciting