VIX crushed into the low teens

With equities closing significantly higher for a second consecutive day, the VIX continued to be crushed lower, settling -16.5% @ 14.05 (intra low 13.82). Near term outlook offers a moderate threat of equity downside to sp'2085/80, but with broader upside into August.


VIX'daily3

VIX'weekly'2

Summary

I think the bigger weekly cycle is increasingly important. Based on many multi-week cycles across the last few years, 2-3 weeks of a subdued VIX look due... before sustained price action above the key 20 threshold.

Prime time for the equity bears would appear to be from mid August.. into early October.

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More later... on the indexes

Closing Brief

US equities closed significantly higher, sp +22pts @ 2099. The two leaders - Trans/R2K, both settled higher by 1.1%. Near term outlook offers moderate threat of downside to 2085/80... but regardless of any Tues/Wed weakness, the broader trend looks bullish into early August.


sp'60min

Summary

*further gains in the closing hour, and some indexes suggestive of a straight up move, at least into early Wednesday.
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Ant Man, aka. Gordon Gekko.. aka... Micheal Douglas brings the day to a close !

Ant Man loves DIS?

So, a second consecutive day of significant net daily gains. The recent double floor of sp'2044 is already almost 3% lower!

For the few remaining doomer bears out there... it is arguably a gain of side step this nonsense.. at least into early August.
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Something I did not mention earlier.... the bears were causing travel problems in London city earlier this morning... as they broke through a fence.. and chained themselves up.

Bearish runways?

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more later... on the VIX

3pm update - holding the gains

US equities are set to close significantly higher for the second consecutive trading day. With price structure of a baby bull flag, there is threat of a Tuesday gap above resistance at the sp'2100 threshold.. opening up marginal new historic highs (in some, but certainly not all indexes) into early August.


sp'60min

VIX weekly'2

Summary

*VIX is really getting ground lower today.. pretty amazing to see the 14s... having hit 20.05 last Thursday.
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An interesting.. if somewhat subdued start to the week.

Right now... there seems ZERO point in being short.
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notable strength: tech,  AAPL +1.8% in the $125s