12pm update - eyes on the VIX

Whilst the main indexes hold moderate gains, the VIX - having fallen from the 22s, looks like its trying to break back higher, breaking a series of six consecutive daily declines. Mr Dollar is holding moderate gains, which is probably helping to keep the equity gains somewhat limited.


vix'60min

sp'daily

Summary

Its almost a bit of a boring day, maybe some more dynamic action in the late afternoon?

--
Alcoa is not having the most inspirational day, now sporting a huge black warning candle, AA could easily see a few days lower into this weekend

With still 4 hours left of the day, lets see if we can break back lower into the sp'1450s by the close. A red close would be a good sign that we still have a good opportunity for a retracement down to the 1440/25 zone.
 --

UPDATE 1pm  VIX still battling higher..

a break into the 14s would be important by the close, along with sp <1455, anything <1451 would be a bonus.