10am update - opening reversal

Equities open moderately higher to sp'2029, but the gains have faded rather quickly, with a clear black-fail candle for equities, and a classic hollow red reversal candle for the VIX. However, in such holiday trading conditions, bears are unlikely to muster any sustained downside.


sp'60min

VIX'60min

Summary

Its a very messy open.

All things considered though...  we've a rather secure double floor of sp'2005... and we still look set to claw upward to the 50/200 day MAs in the 2060s.

A year end close in the 2100s is STILL viable, but new historic highs are not.
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notable mover...

DIS. For the third consecutive day, opening gains quickly turn to losses as another sell program hits. Are they really intent on dragging it to the $90 target that BTIG recently issued?
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stay tuned