12pm update - still holding the low

US equities remain very weak, but the bears are so far unable to do any significant technical damage, from what are now a series of marginally higher lows from sp'1867. VIX is +9% in the 28s. Whilst the USD is broadly flat in the DXY 96.40s, commodities are weak, Gold -$4, with Oil -1.0% in the $46s.


sp'60min

VIX'60min

Summary

So.. we still ain't looking great.... and a net daily gain looks out of range.

However, the near term outlook remains unchanged. UP into FOMC week.

I realise the irony in that I'm the one calling for upside after yet another lousy market morning. Tis a twisted market.

*AAPL is offering a micro double floor in the low $109s...

... the 111s are still viable before the weekly close. Broader upside to the 114/116s looks more probable than not.

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VIX update from Mr R.



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time for some cheerleaders on clown finance TV. Will they be particularly twitchy into the long weekend?
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12.27pm.. so much for the earlier low.... sp'1918.. with VIX pushing upward.. 28s.

Next level remains the 1903 low. 

notable strength, US bonds, TLT +1.0% in the $122.80s.. confirming the equity declines.