Volatility trying to stabilise

With equities seeing increasing weakness across the day, the VIX turned briefly positive, but still settled lower by -1.5% @ 14.30. There looks to be viable upside to the 16.50/17.00 zone, before the equity market resumes the broader up trend.


vix'60min

vix'daily3

Summary

The fifth consecutive daily decline for the VIX, but clearly, the bulk of the decline - from the 21s, is already done.

VIX did break a marginally lower low of 14.02, but is showing some potential to climb across the next few days. Best case for the equity bears is sp'1800/1780, which should equate to VIX in the 16.50/17.00 zone.
--

more later..on the indexes

Closing Brief

US equities broke a new high in the early morning (sp'1823), but saw increasing weakness into the late afternoon, sp -0.5pts @ 1819. The two leaders - Trans/R2K, settled higher by 0.1% and 0.3% respectively. Near term outlook is for a minor retracement to the 1800/1780 zone.


sp'60min

Summary

*moderate weakness into the close.

Awaiting earnings from CSCO
---

So.. we did break a new cycle high of 1826, but that now looks like a near term top, at least for the remainder of this week

--

more later...on the VIX

3pm update - weakness into the close

The market has vainly tried to rally, but only managed minor weak chop. Equities look set for weakness into the close, although the 50 day MA of 1809 looks out of reach until tomorrow. With no sig' QE-pomo until next Tuesday..the bears do have a window of opportunity.


sp'60min

Summary

*VIX turns positive again, a close in the 15s would be..useful.
--

Things look on track. Bulls tried to push a new  high, but really, no one wants to buy >1820/21.

Next target is 1810/09....and then the primary zone of 1800/1780..but the longer it takes..the less likely 1780.
-

3.15pm...minor chop continues, but the VIX is positive, and 1826 looks like it'll hold as a high for the rest of this week.

AMZN continuing to slide...-3.9%

Metals are weakening, and that is not helping the miners, GDX -3.5%..reversing all of the Tuesday gains.


3.40pm...minor weak chop.....with the inclination to the downside. A close at the low would bode for an especially weak Thursday (despite part'2 of Yellen).

3.45pm...clown finance TV now saying the US senate hearing with Yellen is postponed, probably for a few weeks.

sp' back to flat...a Doji candle on the daily?