11am update - awaiting another push lower

US equities remain in minor chop mode, as the bull maniacs are still resolutely battling to push to new highs. However, with technical breaks (AAPL being a notable recent example) all over the place, momentum is increasingly favouring the equity bears. VIX remains subdued, but the setup is there for mid/upper teens.


sp'daily5

VIX'daily3

Summary

*note the 200dma, now at sp'2070.

If the bears can break just to the recent low of 2063.. and attain a daily close <2070... things will get rather interesting.
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Today sure seems like a replay of yesterday.... so.. perhaps expect increasing weakness within the next hour or two.
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back soon