sp'daily5
VIX'daily3
Summary
*I strongly suggest anyone watch the Oscar video I highlighted in the previous post. I realise many of you can't stand the overly loud Mr C.. but he makes MANY of the points I am standing by. The implications are important.
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So... we're set to open lower... and cyclically.. everything is setup in favour to the equity bears.
Daily equity MACD cycle could see a bearish cross today.. with the VIX seeing a bullish cross. Both offer a further FULL week to the equity bears.
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Overnight Asia action...
Japan: back after the break, opened sharply lower, unable to recover, settling -2.8% @ 17571
China: +0.9% @ 3142... vain attempt to hold together... it won't last. Sub 3K is due.
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Have a good Thursday :)
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7.21am.. sp -18pts, 1920.. things are starting to get significant.
Lets see how low the market can fall by around 11am. I would prefer to drop a few positions by late morning, and re-position in the afternoon. However, there is HIGH threat we'll just fall across the entire day.
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8.31am Durable goods orders: -2.0%, m/m
weekly jobs, 267k.... inline.
sp -16pts @ 1922.
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*I am concerned of a possible intraday floor around 11am... somewhere around sp'1915/10...which should equate to VIX 25/26.
9.13am.. sp -16pts... 1922.... viable downside to 1915/10 by 11am... with VIX 25/26s.
Yellen is due at 5pm EST.. and yes.. that might be an issue for the Friday open.
9.27am.. Eyes sharp.. on the 5/15min cycles this morning.... along opening VIX action.
*notable weakness, Oil -1.1%
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9.34am.. weekly 'rainbow' candle.. turns RED
.. and that is a rather bearish signal for next week.
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9.45am.. EXITED INTC-short... minor gain.