VIX battles higher

With equities seeing a major reversal from the Monday gains, the VIX rebounded, settling +11.5% @ 13.64 (intra high 14.33). Near term outlook is for the sp'2050/40s, which should equate to VIX 16/17s. The big 20 threshold looks difficult in the current cycle.


VIX'60min2

VIX'daily3

Summary

*closing hourly candle was again indicative of the VIX remaining broadly subdued.
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So..a sig' net daily gain for the VIX, but the VIX is still relatively low. There is obvious resistance in the mid 14s, and it was pretty disappointing to see the VIX close in the 13s today.

Overall though.. considering yet another equity reversal... VIX in the mid/high teens looks viable in the near term.

*I hold long-VIX.. seeking an exit in the 16/17s.... but my patience is wearing a little thin.

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more later... on the indexes

Closing Brief

US equity indexes closed significantly lower, sp -20pts @ 2084 (intra low 2076). The two leaders - Trans/R2K, settled lower by -0.6% and -1.0% respectively. With the full reversal of the Monday gains, near term outlook is back to bearish, first target is the sp'2050/40 zone.. which (in theory) should equate to VIX 16/17s.


sp'60min

Summary

*closing hour... moderate upside chop.
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Despite the market clawing higher in the late afternoon, it was still unquestionably a day for the equity bears.

More than anything, the fact that the Friday close was broken under during today was a powerfully bearish signal for tomorrow.. and probably, the rest of the week.

Anyone feeling overly 'buy the dip'.. I refer you to the charts for AAPL and DIS... (soon to be posted) on my 'fair value' page. Both are highly indicative of increasing weakness in the broader market.

Have a good evening

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*the usual bits and pieces across the evening.. to wrap up the day.

3pm update - a powerful reversal

US equities are set to close significantly lower, having seen a full reversal of the 'Monday nonsense'. VIX is pushing for a close above key resistance around 14.50. Commodities remain mixed, Gold +$5, whilst Oil remains in collapse mode, -3.4% in the $42s.


sp'daily5

VIX'daily2

Summary

... I am somewhat tired (dealing with housing issues today), frankly, the market is not actually in the forefront of my mind. I could care less today.. 

Regardless of the exact close, today is a major victory for the equity bears.. after yesterday's nonsense.
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notable weakness: AAPL, -5% or so... leading the broader market lower...
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*I continue to hold long-VIX.. and short INTC. Both positions are annoying.. and I will be glad to drop them for gains, whether tomorrow.. or later in the week.
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back at the close...