Volatility moderately higher

With equities a little lower, the VIX managed to briefly break into the 13s, settling higher by 6.2% @ 12.81. Near term outlook offers a possible minor spike higher, but with the sp'1990/2000s likely before end July, the VIX looks set to melt lower to the 10/9s.


VIX'60min

VIX'daily3

Summary

Suffice to say... VIX 14/15s look viable, but certainly, nothing much more than that.

For Tuesday trading, I would be mindful of an opening black-fail candle...especially if the market is lower by around Dow -75/100pts.
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more later.. on the indexes

Closing Brief

A day of moderate swings for US equities, with the sp'500 settling -4pts @ 1973. The two leaders - trans/R2K, settled -0.3% and -0.4% respectively. Near term outlook offers Tuesday weakness, before upside to the 1990s by end week.


sp'60min

Summary

*NFLX earnings due at the close
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A sometime quiet start to the week, minor swings... few want to buy at these levels (not least yours truly), but then...there is very little downside pressure.

*I remain on the sidelines, seeking to go long, but after another wave lower.
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more later... on the VIX

3pm update - stuck in the 1970s

Equities appear stuck around sp'1975. A daily close in the 1980s looks unlikely. A further wave lower early Tuesday, to the sp'1950s looks very viable.. along with VIX 14/15s... before another short term floor is secured.


sp'60min

Summary

Certainly...a bit of a mixed day. I am not sure anyone will be much pleased with today.

Equity bulls do have sig' QE on Wed/Thursday to look forward to... should be enough to kick the market to the sp'1990s by end of the week.

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yours... on the sidelines...overnight... again.


3.41pm.. minor chop... but we do look stuck...

so.. I'll look for another wave lower..before I go long.
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back at the close.