12pm update - on the way up

Market is comfortably holding onto those opening gains, and is even picking up a few more points as we approach lunch time. VIX is lower by over 4%. Today is clearly day'2 of this new up cycle, the issue is naturally, how many days to go?


sp'60min

sp'daily5

VIX'60min

Summary

Its getting pretty conclusive, we're well into the 1450s, and now a mere 1.5% from the recent QE spike highs.

As we move into opex, it now looks like the bears have entirely lost all downside momentum. Last week was important, with the break of the June rising support trend, but it all seems for nothing.

It will be interesting to see if the bulls can keep this new round of madness going into next week..and beyond. Right now, that appears disturbingly likely.

back at 3pm