Friday 4 September 2015

10am update - opening declines

US equities open significantly lower, and the market is something of a war zone this morning, as the bears are screaming to break the recent key higher low of sp'1903.. whilst the bulls (should be) desperate for a net daily gain to wrap up a rough week.


sp'60min



VIX'60min



Summary

*opening black-fail candle in the VIX... but now back to the highs...
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The line in the sand is pretty clear... 1903.

Despite the equity declines, the VIX really isn't showing much relative upside power.

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Yours truly is naturally somewhat focused on AAPL, which has already seen a wild swing from the mid 108s to mid 110s... and back to the 109s.

AAPL'15min


stay tuned!

10.04am.. I'm inherently biased, but I see stocks like AAPL turning positive today.... with a red VIX.

I'm wearing my flak jacket.. in the trenches... and I'm still expecting to come out of this latest trade positive.


10.24am... sp'1927....  market battling to build a floor.. with a marginally higher low (seen better on hourly chart).

VIX 27s... but that could easily turn red today.... not least as vol' will likely decline into the afternoon.
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notable weakness, copper miners, FCX -5%.. TCK -6%..  the fractionally higher USD is not helping commodities.