2pm update - the rebounds sure remain strong

Having declined from a Thursday afternoon high of sp'2099 to a Friday afternoon low of 2052, the market is already back to the upper 2070s. VIX is naturally being ground down, -4% in the upper 14s. As things stand, renewed downside to the 2040s still looks highly probable.


sp'60min

VIX'60min

Summary

Little to add.

A lousy start to the week for the equity bears, but we should break last Friday's low within the next few days.

Clearly though..having bounced back so strongly.. a move to the 2030s - or more importantly.. the 2020s looks damn difficult.

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notable weakness, AAPL, daily

Broadly weak... and relative to the main market, AAPL really is struggling, despite an increased stock buy back. Maybe they just need to buy back ALL the shares to solve the declining EPS/revenue?

yours.. sarcasm @ 103%.. and still climbing.