10am update - opening VIX reversal

US equities open significantly lower, with an early low of sp'1931. There is a notable black-fail candle on the VIX, having opened at 31.95.. but already rapidly cooling back under the 30 threshold. Broadly, the market should form a floor across the next few hours.. before resuming the climb from last weeks low of 1867.


VIX'60min

sp'60min

Summary

Black-fail candles are not to be dismissed lightly.. and frankly, equity bears should be very concerned that we already have seen a full retrace of the 126pt ramp from last week.
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*I remain on the sidelines.. eyes on AAPL, but it has already bounced into the 111s, and I ain't particularly interested in getting involved before 11am.
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9.56am...

sp'15min

Right in the target zone.
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10.06am.. VIX back on the rise... trying to break new highs.

*yours truly has close eyes on AAPL...  110.70s.

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10.12am.. LONG-AAPL.. from the 110s... with sp'1930
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10.31am.. It looks like we have a retrace low of sp'1925.... and we're already at 1936.. with relatively easy upside to 1950.