2pm update - continued nonsense talk

The indexes are making another play to claw to new highs, and yet the doomer talk continues. The relentless 'ohh, the wedge is playing out'. It won't stop..ever. Even if we're trading in the sp'1700s later this year, we'll no doubt see the same nonsense talk. Its not worked out since 2009, and it won't likely work now.


sp'daily5

vix'daily3

Summary

The indexes showing no sign of turning yet, although yet again the VIX is holding the recent lows, and seems likely to close a little higher.

A minor multi-day wave lower is inevitable, but as I feared last week, if we get to sp'1510/20, the retracement could merely be to the old high of 1474.
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Metals and miners remain weak..a nice little wash-out move in both seems likely into mid February.