12pm update - spiky hourly candles

The sp'500 is offering a couple of candles with spikes.. and those usually bode for renewed upside. VIX has cooled a little, but still +12% in the 17.10s. It remains an increasingly messy situation, with threat of another wave lower to the sp'2040s - with Dow 17000... before greater opportunity of a bounce into next week.


sp'60min

VIX'60min

Summary

So... a bounce looks due... but we're not yet tested the sp'2040s... nor close enough to Dow 17000 to merit a solid floor.

Maybe a bounce into the afternoon, and a final smaller wave lower tomorrow... with a turn on opex.

As it is, I can't be shorting at these levels... nor with VIX 17s. I'm probably going to sit it out until next week.
-

--
notable weakness:

DIS, -4.9% in the $101s... the low 90s look due in September.
-

AAPL, -2.5%

60min

Broad downside target is $105... monthly cycle suggest $90.. and I realise the latter sounds like 'crazy talk' right now.

--
VIX update from Mr T.



-
time to sleep.. or something