sp'60min
VIX'60min
Summary
For those equity bears hoping we are going to unravel <sp'1800 in the near term... price action/structure sure doesn't support it.
Yes we're lower, but neither the daily/weekly cycles are setup in a way that offers opportunity of sustained downside before mid February.
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As for AAPL...
I've seen this picture before, and the setup does not favour the bears. The $105s look very viable.
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time to cook... back for the EIA oil report at 10.30am
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10.23am.. Dow -155pts... VIX +2.6%..... that tells the story.
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10.31am.. EIA, inventory build 8.4 million surplus... another dire amount...
Oil is -1.3%... but threatens to turn positive later today.
sp -12pts @ 1890.... I'd guess we'll close net higher today.
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notable weakness...
AAPL -5.6%
NFLX -3.3%
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10.37am.. Rogue print on the VIX of 24.38.... as ever.. . curious