VIX climbs across the day

With US equities weakening into the close, the VIX settled higher, +10.8% @ 13.94 (intra high 14.31). Near term outlook offers renewed equity strength, with the VIX likely to cool into the 12/11s. The big 20 threshold looks out of range until at least May.


VIX'60min

VIX'daily3

Summary

Little to add.

An interesting net daily gain for the VIX, but overall... the equity market looks very strong.
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more later.. on the indexes

Closing Brief

US equities closed moderately weak, sp -9pts @ 2092 (intra high 2107). The two leaders - Trans/R2K, settled -0.7% and +0.1% respectively. Near term outlook remains bullish, with new historic highs due for all indexes.


sp'60min

Summary

*a somewhat weak closing hour, but overall.. its nothing for the equity bears to get excited about.
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There really isn't much to note... on what was a relatively quiet day.

Broader weekly cycles are all suggestive of higher levels... at least to the sp'2130s.

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more later.. on the VIX

3pm update - nothing to get excited about

The smaller 5/15min equity cycles are arguably floored, and market looks set for renewed upside across the week. The VIX is higher by 11% @ 14.00 but overall... it looks to be of little significance. Metals remain weak, Gold -$9. Oil is battling to hold minor gains of 0.4%


sp'60min

VIX'60min

Summary

*I remain long INTC.. from a little earlier.. and will hold that into early Wed' for an earnings reaction.
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... updates into the close... if things get interesting.. but I doubt it.

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2pm update - moderate weakness

US equities are moderately weak, with the sp' having slipped from 2107 to 2095. Next soft support is the 2090/88 zone.. which should comfortably hold. Metals remain weak, Gold -$8. Oil has re-built gains of 1.1%.


sp'60min

Summary

Little to add.

Moderate weakness... nothing for the bears to get excited about.. and merely another entry-level for those wanting to go long into earnings.
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notable weakness: GE -2.6%... cooling after the Friday hyper-gains
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2.02pm.. Am long INTC.. from 31.80... not quite the level I wanted.. but its 'reasonable'.... now I wait for earnings... at the Tuesday close.

1pm update - minor equity weakness

Equity indexes are seeing a minor down wave.. from an earlier high of sp'2107. Regardless of the daily close.. the broader trend remains bullish. Metals remain weak, Gold -$9. Oil is +0.7%, but looks vulnerable into the next set of inventory reports this Tue/Wednesday.


sp'60min

INTC'15min

Summary

*I continue to have eyes on INTC.. the 31.60/50s would be a reasonable entry level.. at least to me.
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Little to add.. on what is a pretty quiet day.

notable weakness: SINA, -5.7%.. with many reeling recent threats of a shutdown from the China Govt'

12pm update - .. and Oil turns red

US equities are holding minor gains, and regardless of whether the daily close is a little higher.. or lower... the broader trend is unquestionably still very strong. Metals are weak, Gold -$10. Oil has (not surprisingly) just turned negative.


USO'60min

INTC, 15min

Summary

*eyes on USO and INTC... along with many others.. its kinda interesting today, despite the broader market being dull.
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re: INTC... I will consider going long in the yellow box zone this afternoon... if we get there... looks a fair chance.
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VIX update from Mr T.


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time for a light lunch

11am update - Oil looking vulnerable

Whilst equities are holding minor gains.. and set for a fourth consecutive net daily gain, there is notable cooling in Oil, which looks set to turn negative by the close. Metals are weak, Gold -$9... with the giant $1000 threshold still on track for this summer.


USO,60min

GLD,daily

Summary

*notable opening black-fail candle for Oil, the gap zone remains a rather natural downside target.. by Wednesday
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So.. equities are holding minor gains.... a US market that is no doubt being helped by the hyper-strong Asia markets.
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notable strength: NFLX +5.1%...   Go watch 'Daredevil' !

weakness: SINA -5.3%... not so pretty.. as the China leadership are upset at not enough being censored.
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*as well as USO, I also have eyes on INTC... which has earnings due tomorrow.

10am update - opening gains

US equities see gains to start the week.. if minor. There appears almost zero downside power, and new historic highs look due in the near term. Metals are weak, Gold -$7. Oil is battling to hold opening gains of 1.5%


sp'60min

USO'60min

Summary

There is little to add.

Market looks pretty damn strong.... bears look powerless.

Earnings will of course be a major issue across this week.... INTC is due tomorrow...
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notable weakness, GE -1.7%... cooling from the Thurs/Friday gains.

strength: NFLX +3.5... on an upgrade... but the new series 'Daredevil' must merit some due attention, having received the biggest online acclaim I've seen in a long time.
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long week ahead.... stay tuned!

Pre-Market Brief

Good morning. Futures are a little lower, sp -4pts, we're set to open at 2098, but new historic highs look due this week. Metals are moderately lower, Gold -$8, with Silver -1.1%. Oil is starting the week with sig' gains of 1.2%.


sp'daily5

Summary

So... a little weakness to start the week, but new historic highs look due for most indexes this week. The sp'500 is not even 1% away.

First support is the rising 50dma around 2080.
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notable early weakness, SINA -5.1% @ $35.60, as China threatens a shutdown, due to SINA not censoring enough content.

strength: NFLX, +2.9%... its had a good run in recent days. No doubt, the huge positive reaction to the Friday night release of the  new Marvel series 'Daredevil' (I highly recommend).. is probably the reason the stock is again higher this morning.

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Update from Oscar


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Doomer chat.... Hunter with Armstrong


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Good wishes for the week ahead