2pm update - VIX is not reflecting any concern

Whilst the Dow is -110pts or so, the VIX is up a mere 2%. Price action remains weak...but the equity bears are still not showing any real power, not least via the VIX. Barring a break <1866..and then 1850...along with VIX 15/16s..the current down wave is nothing to be taken seriously.


VIX'60min

Dow, daily

Summary

*yes, I will note the daily MACD cycles on the indexes look set to rollover within a day or two, but still...the VIX is saying 'no concern'.
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The smaller 5/15min cycles offering a turn/floor at 1870.

As ever....we shall see!


2.04pm... Okay, a break <1870..but still...price action sure isn't dynamic...

I'd merely see this as yet another chance for equity bears to bail ahead of the Yellen tomorrow.