12pm update - still holding the low

US equities remain very weak, but the bears are so far unable to do any significant technical damage, from what are now a series of marginally higher lows from sp'1867. VIX is +9% in the 28s. Whilst the USD is broadly flat in the DXY 96.40s, commodities are weak, Gold -$4, with Oil -1.0% in the $46s.


sp'60min

VIX'60min

Summary

So.. we still ain't looking great.... and a net daily gain looks out of range.

However, the near term outlook remains unchanged. UP into FOMC week.

I realise the irony in that I'm the one calling for upside after yet another lousy market morning. Tis a twisted market.

*AAPL is offering a micro double floor in the low $109s...

... the 111s are still viable before the weekly close. Broader upside to the 114/116s looks more probable than not.

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VIX update from Mr R.



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time for some cheerleaders on clown finance TV. Will they be particularly twitchy into the long weekend?
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12.27pm.. so much for the earlier low.... sp'1918.. with VIX pushing upward.. 28s.

Next level remains the 1903 low. 

notable strength, US bonds, TLT +1.0% in the $122.80s.. confirming the equity declines.

11am update - battling to build a floor

US equities are battling hard to hold above the early low of sp'1919 - a notably higher low from 1903. If the market can stabilise from here... talk will swing back toward the sp'2000 threshold. VIX remains positive, +7% in the 27s, but looks highly vulnerable to closing the week red.


sp'60min

Summary

Well, it sure ain't pretty.. but we do have a marginally higher low.

For those with broader downside aims... a new intra low <1919 is important today.
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notable weakness: 

miners, GDX -1.9%.. with Gold -$7 and Silver -1.0%


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AAPL, 15min

Price action bodes for upside into the afternoon.. which itself is at least somewhat bullish for the broader market.
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11.06am.. Well, its prime time for a turn upward...

notable strength: airlines, DAL +1.4%, UAL +0.2%, lower oil is surely helping.

10am update - opening declines

US equities open significantly lower, and the market is something of a war zone this morning, as the bears are screaming to break the recent key higher low of sp'1903.. whilst the bulls (should be) desperate for a net daily gain to wrap up a rough week.


sp'60min

VIX'60min

Summary

*opening black-fail candle in the VIX... but now back to the highs...
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The line in the sand is pretty clear... 1903.

Despite the equity declines, the VIX really isn't showing much relative upside power.

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Yours truly is naturally somewhat focused on AAPL, which has already seen a wild swing from the mid 108s to mid 110s... and back to the 109s.

AAPL'15min

stay tuned!

10.04am.. I'm inherently biased, but I see stocks like AAPL turning positive today.... with a red VIX.

I'm wearing my flak jacket.. in the trenches... and I'm still expecting to come out of this latest trade positive.


10.24am... sp'1927....  market battling to build a floor.. with a marginally higher low (seen better on hourly chart).

VIX 27s... but that could easily turn red today.... not least as vol' will likely decline into the afternoon.
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notable weakness, copper miners, FCX -5%.. TCK -6%..  the fractionally higher USD is not helping commodities.