The VIX is a touch lower, but it remains all noise.
sp'60min, H/S
sp'daily5
IWM, 60min
Summary
Despite factory orders data coming in lousy, Mr Market is holding onto the gains reasonably well. It looks a bit spiky on the daily chart, but with the underlying momentum battling (see daily MACD cycle) higher, bulls are in control.
Baring a latter day reversal, and at least a 'generally' flat close, bulls have broken upward, with new index highs very likely within the next few days.
Those hopes of 1420 are just about all faded away, baring that reversal.
Not good. Not good at all.
back at 2pm