11am update - early bounce

US equities have already seen an early bounce from the opening low of sp'2063. Regardless of any further bounce/chop, there is considerable technical damage seen in the bigger weekly cycles. Despite USD -0.8% in the DXY 96.40s, metals remain weak, Gold -$3, whilst Oil is -1.5% in the $47s.


Dow' weekly'1b

Summary

...back from lunch.

There is a lot to cover... bear with me.
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re: VIX... an opening high of 16.00....  upper gap zone is around 16.60.

However, if you consider Dow 17k as a valid target in the near term, then VIX is set for the low 20s.

VIX' daily2

A second green candle... and with the MACD (green bar histogram) cycle set to turn positive cycle late today/early tomorrow...  equity bears have momentum increasingly swinging their way.
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notable weakness: BABA -2.8%... no doubt, the China market is not helping

TWTR -3.5% in the low $34s.. earnings are tomorrow I believe.

Energy stocks, SDRL -4.2% in the $8.20s... dire... the 6/5s look due.