10am update - opening chop

US equities start the week with some minor chop , but it is notable that the sp'500 has already attained a new high of 2006. Transports/R2K are both moderately higher. Metals are very weak, Gold -$19, with Silver -1.3%. Oil is weak, -1.2%


sp'60min

VIX'5min

Summary

*a notable early gain in the VIX of around 10%...back into the low teens... but it has already failed...as seen on the 5min micro cycle.
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Okay..so...some minor chop.

I realise some are still seeking the 1980s... which would equate to VIX 15s (where there is an obvious gap zone)..but overall...there is little reason why we'll see a 2-3 day down cycle this week.

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*I remain long via SDRL, that opened higher, but is now a touch red ...the lower oil prices are not helping the energy sector.


10.40am.. There is just no downside power..and we're almost right back into algo-bot melt mode.

Coming up...the index ceilings for Sept'