11am update - VIX creeping higher

US equity indexes are turning negative, with the VIX +2% in the 16s. Hourly MACD equity cycle is due to slide for the rest of today, and with the uncertainty of the Sunday Greek referendum, it remains the case of 'who wants to hold long into the holiday weekend?'


sp'60min

vix'60min

Summary

*opening reversal candle in the VIX is being confirmed with the current gains
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From a pure cycle perspective, market is set to slip lower... with underlying downward pressure via the obvious uncertainty of how the Greeks might vote.

notable weakness, BAC -1.1%.. as the slightly weaker than expected jobs data has some still dismissive of an int' rate hike in the Sept-Dec period.

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time for an early lunch
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11.12am.. provisional rollover on the hourly cycle....  bears just need a break <2072 to confirm.

VIX +5.2%... offering support to 'weakness into the long weekend'.


11.29am.. The levels are clear... this hour.. bears need <2072.

By the close... bear only need <2077.

Considering the hourly cycle... and other 'weekend' issues... increasing downside looks due.