sp'60min
VIX'60min
Summary
*micro gap in the VIX around 13.40 set to be filled.
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Well.. the hourly equity/VIX cycles do favour the equity bulls for a few hours.
However, we did see a key break yesterday, and that will only be negated if we trade >sp'2111.
Best guess... a few hours of chop... but leaning weak into the weekend.
Equity bears should be striving for a weekly close <2080... which would make for a net weekly decline, along with VIX in the 14s.
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notable strength... DIS, daily
Indeed, those equity bears seeking renewed broader downside should keep an eye on DIS. Any price action above the 200dma in the $104s would be a sign we'll see sp >2111.
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time to shop...