sp'60min
VIX'60min
Summary
As I noted last Friday, equities are due a retrace of the 126pt ramp from the double floor of 1867, Target zone was 1945/30... and we're set to open at the lower end.
I am keeping an eye on three stocks.. and if they hold the target lows, it will bode well for the equity bulls...
AAPL -2.2% in the low $110s
DIS -1.7% around $100
NFLX -4.4% @ $110.00... precisely on target... at the gap.
--
*I will strongly consider picking AAPL-long today, especially around 11am, in the 109/108s.
I'll also consider DIS-long from the 99/98s... if price action looks okay.
--
I do understand why some are calling for much lower levels in the near term, but the daily MACD cycles are already on the VERY low side... and frankly, it makes for a lousy place to be short.
I'm holding to a no-shorts policy until FOMC week.
One thing is for sure... today won't be dull... but then with VIX in the 30s.... why would anyone be surprised?
--
Overnight China action: Shanghai comp' settled -1.2% @ 3166.
--
Good wishes for Tuesday trading.
-
8.58am... sp -52pts.. we're set to open at 1920... significantly below my target zone.
Its getting somewhat borderline for the bull maniacs.
AAPL $109s... at target.
-
9.40am.. opening black-fail candle on the VIX.... bears beware.