1pm update - awaiting a little more weakness

US equities remain mixed, with sp'2128 an increasingly likely short term peak. There seems opportunity for another moderate wave lower this afternoon, with a net daily decline for the Dow in the -130/160 range.. along with VIX 13s. Regardless though.. still a sig' net weekly gain for all US indexes


Dow, daily

VIX'60min

Summary

Little to add.

Three hours left of the trading week.. all things considered... I'm looking to see some of the rats exit into the weekend.

notable weakness: INTC, -2.1% @ $29.20s, the bigger weekly cycle looks dire, at least to 26/25s. The H/S formation is suggestive of $22.50.

*I continue to believe INTC is a valid indirect signal/proxy for the broader market.. into Sept/Oct. Bulls.. beware!
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back at 2pm