12pm update - holding gains

US equities are holding somewhat significant gains, with a probable daily close above the sp'1900 threshold. VIX is naturally in cooling mode, -4% in the 23s. For the equity bull maniacs, its a straight run to 1940s, with VIX 20/18.


sp'60min

VIX'60min

Summary

Suffice to add, yesterday seemed pretty clear, with a floor in the 1870s... and now here we are.. already back to 1900.

Broadly, if this nonsense drags out into mid Feb - as the bigger weekly cycles are suggesting, then we'll hit the 1970s... before a critical rollover.

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VIX update from Mr T.



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time for lunch