VIX moderately lower

With equities closing moderately mixed, the VIX settled -7.4% @ 15.29 (intra high 16.96). Near term outlook offers renewed equity weakness.. at least to the 200dma in the low sp'2060s. If sp'2020s, that will equate to VIX in the low 20s... briefly.


VIX'60min

VIX'daily3

Summary

So, a net daily decline, with the VIX struggling to break/hold the upper teens.

Despite today's decline, a brief foray above the key 20 threshold looks due... early next week.... with threat of the sp'2020s.. before renewed upside.

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more later... on the indexes

Closing Brief

US equities closed moderately mixed, sp +3pts @ 2081 (intra low 2069). The two leaders - Trans/R2K, settled u/c and +0.3% respectively. Near term outlook is for a test of the 200dma (2063).. with the 2020s viable next week.


sp'60min

Summary

closing hour action: micro chop... leaning on the downside, but then another nano spike upward into the close.
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Aside from the action in a few stocks like AAPL and TSLA, it was a somewhat tedious day.

A test of the 200dma in the low sp'2060s - a mere 3% below the recent high 2116, looks a given.

The more natural retrace target of the 2020s looks out of range until next week. As today showed.. the dip buyers are still out there. Or should that be the central banks?
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Luckeeeeeeeeeeeee

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more later... on the VIX

3pm update - a little tedious

US equities are a little higher, with the sp' having battled from 2069 to 2082. Ongoing price action remains weak though, and further downside looks due into early next week. The sp'2020s would make for a very natural retrace of the hyper-ramp from 1871-2116.


sp'60min

VIX'60min

Summary

*have re-drawn the bear flag on the equity chart. So long as we don't break/hold above 2100, the default trade (at least in the VERY short term) remains to the downside.
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Regardless of the exact close, current price action should be nothing for the equity bulls to get overly excited about.

... but then.. neither can the bears hold any hope of sustained price action under the sp'2K threshold.
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In many ways... its a case of turn off ya screens until next week.. and see where we are then.
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notable weakness...

AAPL, daily

Particularly weak on chatter of reduced component orders (thanks for the reminder KZ).

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back at the close.