sp'daily5
VIX'daily3
Summary
*VIX is confirming the equity declines, with the break into the 16s.. the door is open to a 'VERY brief' attempt to challenge the key 20 threshold. However, VIX 19/20s would make for a very natural spike high.. along with sp'2040/30.. whether tomorrow.. or early Friday.
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Yes.. I'm surprised at the loss of the sp'2070s... but infinately more important... what is important is there is now a clear 1% empty air.. at least 2040.
Those touting the 2040s last night... congrats with that slightly bold call... we're on track for that now.. before the weekend.
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In respect to the fifth anniversary of the infamous flash crash...
Much like Khan.. the bull maniacs will be back... bears.. beware!
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*I remain short Gold.. will likely hold into early Friday.
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3.05pm... something to look forward to...
Earnings at the close... TSLA, WFM... amongst a few others.
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3.14pm.. A little chop around sp'2070... the damage has been done though.. and market looks set for another 1.5% lower by early Friday. A brief test of the 200dma is possible.. if 'good jobs news' is seen as 'omg, rates might actually rise this year'.
notable weakness: TSLA -1.5%.. ahead of earnings...
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3.29pm.. BABA has earnings early tomorrow... currently +0.2% in the $79s. With the recent failure to hold the big $80 threshold.. outlook is bearish tomorrow.... viable downside to 70/68.
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sp'2073... regardless of the exact close... a second day for the bears....