12pm update - rolling over

US equities are a touch lower, as there is some natural weakness ahead of the Sunday referendum. Hourly equity cycles are on the high side, and there is probable downside into the weekly close. VIX is reflecting some renewed concern, +4% in the 16.80s.


sp'60min

VIX'60min

Summary

Things are starting to get marginally interesting... not least in the VIX.

A daily close in the sp'2050s.. with VIX 18s is just about viable.. it won't take much to spook more of the rats to start hitting the sell button.

I see a lot of complacency out there... despite distinct, and increasing weakness on the bigger monthly cycles. More on that though.. over the weekend.
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notable weakness:  BAC, -1.4%... still unable to clear the key $18 threshold.
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time for an icy drink!
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12.24pm.. Provisional break of soft rising trend.... bull maniacs are in trouble now for rest of the day.

VIX confirming the market... +5.8% in the 17s.....   the 18s look due by the close.