12pm update - equities still weak

The market remains moderately weak, but still above the Wed' morning low of sp'1982. Price structure on the bigger daily charts remains a pretty major bull flag. Metals remain dire.. Gold -$9.


sp'60min

vix'60min

Summary

So.. we're still weak..and the low sp'1970s remain viable... although that seems unlikely today.

For me, a key issue will be VIX 15s... which is very likely the best the equity bears can hope for.

Notable weakness in the oil/gas sector, RIG -2.9%, SDRL -5.1%.

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time for lunch
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12.34pm... watching Schiff on clown finance TV... hmm

sp'1987.....weak....VIX creeping higher.

11am update - bears trying to capture the flag

US equities remain moderately lower, but still, there just isn't any sig' downside power. Metals remain very weak, Gold -$12, with Silver -0.9%. Oil & Nat' gas are both lower by around -0.6%.


sp'60min

Summary

...meanwhile...this is (depressingly) probably the most bearish thing we'll see today.



*there is more than one bear...if you look closely.
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So.... the big question remains.... sp'1970s....in the current multi-day cycle, or was sp'1982 a key low?

All things considered, I'm still looking for that 1% of downside, but I won't be short this market... overly risky... until we're brushing the upper bollinger on the weekly and/or monthly cycle.


11.34am.. still stuck around the 1990 threshold.. sure is a price-cluster zone for the past THREE weeks.

Meanwhile... SDRL getting drilling into dust... -4.9%. I sure put the kiss of death on that one. 

10am update - opening weakness

US equities open moderately lower, with the sp'500 close to breaking what is arguably rising support of a B wave. If correct, there is still viable downside to the low 1970s, which would equate to VIX 15s. Metals and oil are both ending the week badly.


sp'60min

VIX'60min

Summary

*the obvious price gap on the VIX continues to offer the bears some hope for a further wave lower.. but really, we're only talking about a 1% equity decline... at best.
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Interesting day ahead... especially if we can break back under 1990.

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*notable weakness: SDRL, -3.0%... which makes for one ugly weekly decline of -8%


10.04am.. Well.. .we're on the slide, 1988, with VIX 13.75...

big opportunity for the bears today...

I'll look to go long around 1972/70.... with VIX 15s..... if we get there.
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10.18am... failure in the VIX... red candle for this hour... with 1992.

..and THAT is why I can't be short this market... very frustrating.
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Where is a 'spooky' news story on the wires when I want one?


10.28am... VIX showing bear failure...

Disappointing. I suppose it could still push higher into the close, but there isn't a likely catalyst to help.