12pm update - VIX is not yet warning of anything serious

Despite equities breaking a new intra low of sp'1880, the VIX is only moderately higher, +6% in the 23s. For now, this is still arguably nothing more than a case of post jobs depression. The USD is notably on the rebound, +0.7% in the DXY 97.10s.


VIX'60min

sp'60min

Summary

*price structure on the hourly equity chart is offering some kind of complex H/S. I suppose you could extrapolate from 1947 to 1880... 67pts.. and add to 1947.. but that would suggest sp'2014.. and that seems way too high (at least to me).
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So.. we're significantly lower, but VIX is still not confirming.

I'd have to see sustained action in the 26/27s this afternoon to take the current equity weakness seriously.

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VIX update from Mr T.



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time for lunch