3pm update - weakness into the weekend

US equities remain weak, with the sp' set for a weekly close in the 1985/75 zone. This will be the first net weekly decline for the sp'500 since early August. Primary downside target remains 1975/00 zone, along with VIX 15s.


sp'60min

VIX'60min

Summary

Suffice to say... at least the week is ending 'on track'...

*I will look to pick up a major long block, next Mon/Tuesday..whenever we hit the low 1970s..with VIX 15s.
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...updates into the close....


3.17pm.. .a micro ramp to 1985.... bears covering?

Regardless, I ain't going long unless we hit the low 1970s....

As I often say... 'don't get lost in the minor noise'.


3.22pm.. with volatility as low as it is, its kinda not surprising that everyone gets so rattled on a 0.2% rally across 10/15mins.

So..as things are... seeking for this to hit target next Monday.. I'd be surprised if it takes until Tue/Wed.

2pm update - a lower low

There is increasing weakness into the weekend, with the Wed' morning low of sp'1982 being broken. VIX has climbed into the low 14s. Downside target of the low sp'1970s - with VIX 15s, look on track.


sp'60min

vix'60min

Summary

...back from the park...

Hyper bullish sunsets

...and rather nice it was.
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I remain content to wait for sp'1974/00 zone... which seems more likely early Monday.. than today.

In fact I'd prefer it that way, I don't particularly wish to go long into the weekend..due to the usual options decay issue.


2.33pm minor chop... but sp'1983... with VIX on the edge of the 14s.... bears look in 'soft' control...into early next week.

Carnage in the drillers, SDRL -5.9%... getting absolutely destroyed. 


2.44pm.. here come the 1970s.... with VIX 14.20s....

1pm update - slowly sliding

US equities remain moderately weak, with the sp' stuck under the 1990 threshold. Primary downside target remains the low sp'1970s - along with VIX 15s, which seems very viable early Monday. Metals remain weak, Gold -$9,


sp'60min

Summary

Well, its been a quiet week of minor weak chop...

Downside target remains viable.... and for me, that will be a buying zone. Under NO circumstances am I interested in shorting the indexes...not before sp'2050 or so.

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time for a walk... before the vampires come out.