VIX back on the rise

With equities closing moderately weak, the VIX settled +5.0% @ 16.06 (intra low 15.02). Near term outlook offers the sp'2050s which will equate to VIX 18/19s. The sp'2020s look viable next week, and will offer a brief venture above the key 20 threshold.


VIX'60min

VIX'daily3

Summary

Little to add.

VIX is back on the rise, the 18/19s look possible tomorrow. A brief foray above the 20 threshold looks due... at the earliest.. late Friday.

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more later... on the indexes

Closing Brief

US equity indexes closed moderately weak, sp -6pts @ 2075 (intra high 2086). The two leaders - Trans/R2K, settled lower by -0.4% and -0.8% respectively. Near term outlook offers the 2050s, with a full natural retrace to the 2020s viable early next week.


sp'60min

Summary

*closing hour action: certainly.. leaning on the weaker side... but just holding within the bear flag.
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So.. we didn't break the bear flag in the closing hour.. but that does look very likely tomorrow.. which should offer a rather sig' net daily decline.

To me, the only issue is whether we can battle to the 2020s by early next week... at which point it will be buying time.. for those who can stomach it.

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more later... on the VIX

3pm update - leaning weak into the close

US equities remain choppy, but are increasingly vulnerable, as price structure remains an extremely well defined bear flag. A test.. and break of the 200dma (sp'2063) looks due tomorrow, along with VIX 18/19s. Metals remain weak, Gold -$3, with Silver -0.7%. Oil is sig' lower by -2.5% in the $42s.


sp'60min

VIX'60min

Summary

... tiresome day... too much cloud.. too little sun.. and price action... just a little tedious.

Tomorrow should be much better.. at least from a bearish perspective.

A close of 2073 or less would be provisional break of the flag... and offer a good 1-1.5% lower tomorrow. On what reason? Cyclical.
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notable weakness across the energy sector.... CHK, CNX, RIG, SDRL.

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back at the close.