11am update - holding under the 1467 high

Mr Market is trying to break new highs..and a few indexes have done so - the transports is almost 1% higher in the mid 5500s. The VIX is trying to put in a reversal in the low 13s, near term upside is 14.50, possibly spike into the low 16s.


sp'daily5

VIX'60min

Summary

Seeing the Trans break to a new high is somewhat concerning.

Bears should be seeking a Wednesday VIX close in the 14s, with SP back in the mid' 1450s.

*Metals and Oil remain especially weak, no doubt being pressured by a stronger dollar.