12pm update - still weak

US equities continue to struggle, unable to break declining resistance (currently sp'2020). VIX is confirming some mild concern, +10% @ 20.66. Metals are still building gains, Gold +$18. Oil is holding gains of 1.5%. A monthly close under sp'2k would be a fairly important victory for the equity bears.


sp'60min

Sp'monthly

Summary

For me, how we close the month will be particularly important.

Monthly MACD (blue bar histogram) is on the threshold of settling the month with a bearish cross.. something not seen since Jan'2012.... THREE full years ago.

A close <1999/98 would probably do it... with MARCON 6... and starting Feb' at 6.

...you could say... I am 'moderately concerned'.
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Notable strength: AMZN +13%.. as the momo shorts get nuked

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VIX update from Mr T.



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time for lunch... back at 2pm