The equity gains were clearly shaky from the open, and we have already seen indexes turn negative, with a new cycle low of sp'1932. VIX is battling to turn positive, currently in the low 24s. Metals are weak, Gold -$5. Oil is struggling, -0.9% around the $33.00 threshold.
*I'm trying not to get lost in the minor noise, as the bigger daily, weekly, and monthly cycles are absolutely clear of where we are headed into the spring/early summer.
Price action is similarly clear... rallies ARE being sold into.
Not much else to add. The closing hour will be rather important... and regardless of the exact close, we're still set for net weekly declines of around -5%.. which is a massive achievement for the equity bears to begin the year.
VIX update from Mr T
time for lunch :)