10am update - danger zone for the bears

Good morning. Market is gapping right into a difficult zone for the bears. A close over sp'1450 would be pretty much a clear break higher, and be very suggestive of new index highs.

VIX is moderately lower by 3%, which is a little less than expected, considering the indexes.


sp'60min

sp'daily5

VIX'60min

Summary

Its not looking good at all  If we do close in the 1450s, there seems very little to stop this new push higher.

As ever, how we close will be far more important than how we have opened.

back at 12pm