sp'60min
VIX'60min
Summary
*EXITED DAL-SHORT.. from $43.45.. so that is 2 positions gone... 3 to go.
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So.. we flipped from sp +14pts @ 8.29am to -28pts... and things look increasingly bearish.
Hourly cycles are set for bearish breaks this hour.... and in theory we should hit sp'1880 - with VIX 26s.. by lunch time.
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A somewhat more important issue...
sp'weekly1b
The weekly candles are looking a lot better - from a bearish perspective... the Oct'2014 low of 1820 is viable in theory.
Anyway.. first things first.. lets see if we can get to 1870/67 this afternoon.
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10.02am.. Factory orders, -1.7%... lousy number.
notable weakness: BAC -5.4% in the $14.70s.. as interest rate hikes are OFF the menu
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10.19am.. little bounce to 1903.... as some are no doubt buying ahead of Fed official Fischer.. due at 12pm
.. VIX +6% in the 23.90s....
Equity bears really need to see the 25s within the next 2-3 hrs... to reflect at least some market concern