1pm update - battle continues

US equity indexes see a little chop in the sp'2079-84 zone, but remain broadly weak. VIX is +13% in the 13.90s, but clearly..  is still relatively low. With the USD +0.2% in the 97.30s, metals are already starting to struggle, Gold +$5, whilst Oil is back in collapse mode, -3.4% in the $42s.


sp'daily5

VIX'daily3

Summary

Little to add.

The daily close will be very important.. not least for those long VIX.

Best case..  sub sp'2077... which should just about result in VIX >14.50. If that is the case at 4pm today... it bodes for more significant downside tomorrow.

notable weakness: AAPL -4% in the $114s....  the 119s are now fading away.... $100 looks highly probable.

INTC -2.0%.. set for a daily close in the $28s.       26/25 remains primary downside... H/S scenario remains $22.50.
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1.11pm.. As of writing.. the sp'500 is now BELOW last Friday's close of 2077.57.... and thus the 'Monday nonsense' has been FULLY NEGATED.

This is an extremely bearish signal.. and bodes for much lower levels this week... probably to the 2050/40s.

This will make for one hell of a reversal from the Monday high of sp'2105.