sp'60min
VIX'60min
Summary
A very dynamic pre-market... not least due to the German DAX lower by a very sig' -3%.
Best guess... rising support holds.. with renewed upside into next week. I realise a fair few would disagree with that right now!
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notable movers..
BAC -2% ... with rates not rising
FCX -9%... broader weak trend
SDRL -6%... with weak oil
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*I remain content on the sidelines, as I'm going to let the market tell me whether it can hold rising support... or break lower.. and confirm that sp'2020 is a top.
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stay tuned.... we have a long day ahead
10.01am Leading indicators.. +0.1%... still... thats nothing to inspire the macro-bulls.
10.04am.. To confirm.. the opening VIX candle was indeed a black-fail.. and bodes AGAINST the bears.
They don't alway play out, but I'd argue 85% of the time they do... and equity bears need to be mindful that sp'2040s would be a far more natural cycle peak.
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10.09am.. a very rare pair of black-fail candles
Equity bears... beware.
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10.14am.. sp @ 1971.. .with VIX cooling to +4%... looks like the bull maniacs managed to hold support.
10.28am.. Anyone think we could close Green? lol
It remains a nasty market... and the opening VIX candle was something to take seriously.