VIX still lacking upside power

Despite the market swinging lower from opening gains, the VIX still failed to show any sig' upside power (intra high 15.42), settling -1.9% @ 14.41. Near term outlook threatens the sp'2090/2100 zone.. which would likely equate to VIX 12s. The key 20 threshold looks as out of reach as ever.


VIX'60min

VIX'daily3

Summary

Suffice to add... the VIX remains broadly subdued. There are sporadic little upside bursts of 3-5%... but they just don't hold, and the VIX looks set to remain stuck under the 20 threshold until late May.
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more later... on the indexes

Closing Brief

US equity indexes closed moderately mixed, sp -0.3pts @ 2064. The two leaders - Trans/R2K, settled lower by -1.4% and -0.5% respectively. Near term outlook is extremely messy, as there is clear threat of another push to the 2090/2100 zone.


sp'60min

Summary

*closing hour action: minor chop.. leaning weak, but settling well above the intraday low.
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So... that concludes May 12'th 2016.. in what remains one sick.. nasty... twisted casino.

I'm sure the financial historians of the 22nd century will overlook it, but today was a pretty good example of just how bizarre things currently are.
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re: near term targets... clearly, equity bears need to take out today's low of 2053 to negate the serious threat that we'll battle back upward to 2090/2100 early next week.

Even a move to the 2000/1990s looks difficult... as reflected in a VIX that appears magically pinned to the mid/low teens.

To those who survived today mentally intact.. congratulations, that puts you in the top 1%.

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more later... on the VIX

3pm update - bullish sunshine into the close

Despite a rather dynamic bearish opening reversal... with the market swinging from sp'2073 to 53, US equities are set to close moderately mixed. VIX continues to show no sustained/significant upside power... stuck in the lowly teens. For the equity bulls.. today was a little messy... but the market recovered yet again.


sp'60min

VIX'60min

Summary

*re: hourly equity chart - I am trying to refrain from counting any of the waves, but hell, it ain't hard to see a large ABC /sub 2 wave.. starting from 2039... and ending somewhere close to 2100 next Mon/Tuesday.
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Little to add, on what has been a particularly twisted day.

I'm sure the day traders out there had a rather entertaining day, but for those with eyes more focused on the bigger picture, today offered very little clarity, as the market remains broadly stuck a mere 3-5% from historic highs.
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Here in London city..

Bullish UV.

Bearish shadow

After today, I could do with a week or two off.. but no... thats not viable. Each day... just... gets.... worse.

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back at the close