10am update - opening weak chop

US equities have failed to hold the moderate pre-market gains, with the sp'500 already breaking a fractional new cycle low of 2098.20. VIX is similarly battling (if slowly) upward. From a pure cycle perspective, the bigger move to the downside will be next Mon' or Tuesday. Metals are weak, Gold -$7, with Silver -1.7%


sp'daily5

VIX'daily2'

Summary

*awaiting the first green candle - of this cycle, on the VIX daily chart
--

So... a somewhat subdued open, and those hoping for sp'2110/15 zone are in much the same situation as yesterday. Except momentum is a little more in favour of the equity bears today.. and will be much more so next Mon/Tuesday.

Interesting how Greece has almost completely faded from the news.

Did anyone realise the Greek stock market is still shut? lol

--
AMZN.. utter market hysteria

The daily black-fail candle could be a classic exhaustion top. What remains stunning is how the mainstream financial media are treating Amazon, as though it making a fractional profit is some kind of masterful achievement.

Utter farce.
-

Despite the heavy rains in London city... I'm in a good mood.

time for tea I think :)
--

10.02am.. New home sales -6.8% in June.... a truly lousy number. 

Indexes remain a little twitchy.. the low 2090s look well within range by the close. 

notable weakness, FCX -4.5%.. .as metal prices continue to slide.