US equities break a fractional new intra low of sp'2020, as the market remains under pressure from a number of areas, not least Oil, -2.2% in the $35s. VIX is naturally holding sig' gains, +14% in the 22s. A weekly close above the 20 threshold looks increasingly likely, and that bodes for further weakness Mon-early Wed'.
Clearly... if 2019 fails to hold... then its a straight run to 2000/1990 next Mon/Tuesday.
Considering the VIX weekly chart.. a brief foray to wash out the sp'2K stops looks increasingly likely.
VIX update from Mr T.
time for tea
12.10pm.. and there goes the sp'2019 low..... so... we look headed for sp'2000/1990s.. before the FOMC.
The only issue now is whether the ongoing equity down cycle is enough to spook the fed to back off from raising rates.
12.28pm... open air... with sp'2014.. VIX seeing a mini explosion to the 24s. Weekly cycle offers 25/28 zone in the immediate term... and that'd equate to sp'2000/1990.
... gotta wonder what the fed officials are thinking right now.