sp'60min
vix'60min
Summary
*awaiting earnings at the close from NFLX and INTC.
If I had to guess, both will come in okay... but they face a market that is set to see a moderate retrace across the remainder of this week.
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LIVE feed from the streets of fire (occasionally in studio chat)
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We have clear breaks of trend.... and the price gap zones are very clear.. with sp'2080... and that should equate to VIX 15/16s.
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updates into the close
3.01pm.. hourly targets... sp'2095/90 zone.. with VIX 14.50/15.00
Stay sharp... this closing hour could be pretty exciting.
3.09pm. Notable weakness: miners, GDX, breaks the Nov' 2014 low... following Silver... with Gold set to follow. The strong dollar is obviously a major cause.
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3.12pm.. I am currently long VIX... if I see anything >14.30 or so into the close, I will probably close out for a day-trade.... and start afresh tomorrow.
3.18pm.. a little chop... but should see renewed weakness into the close... as some as concerned about the Greek parliament vote outcome.
3.32pm.. nano sized bull flag on the VIX... offering mid/upper 14s by the close... is so.. I'll likely close out.
With momentum as it is... should see renewed equity downside... under the sp'2100 threshold
3.41pm.. micro chop... with a VIX 13.70s.... not enough for me to merit an exit today.. will hold overnight.. still seeking 15/16s.
Bull flag on the 5min
Pretty clear huh?