10am update - Monday morning chop

Moderate opening losses are already starting to lessen. Those bears who were shorting at the Friday close - in anticipation of a Monday collapse..would have been wise to have hit the exit button about at the open.


sp'60min

vix'60min

Summary

Looks like the indexes are getting support at the important hourly 10MA - 1334 (and rising)

VIX is red - another sign this market still has underlying upside.

I will remain a watcher on the sidelines until sp'1355/65, preferably AFTER the FOMC announce Wed'12.30pm.

Interesting stocks to note... Ebay up... FCX weak, BKS.. was up 8%, but now -2% (rumour...false).

Oil weak...metals..moderately weak.

More across the day..as ever.