10am update - opening chop

US equities start the day with some minor mixed chop. Rising support is currently sp'2090 (2097 at the close).. and considering the lack of downside power, that should comfortably hold today. VIX remains broadly subdued, indicative of a market that has zero concern about anything... least of all... China.


sp'60min

VIX'daily3

Summary

Frankly, until we're back in the sp'2070s and VIX 15s.. I can't take any down move seriously.

Yesterday saw a clear break above resistance, and as its opex week, we're more than likely to just claw our way upward... regardless of China, Brazil... or just about anything else.

notable weakness: DIS -0.8% in the $108s.

miners, GDX -3.1%.. with Gold -$7.... as USD is making a play for the DXY 97s.
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back at 11am