12pm update - a touch of weakness

A slight bit of weakness..but then...bears have been teased like this for weeks. A minor wave lower...and then an afternoon recovery rally? Regardless of the near term 'noise', those broader trends look set for much higher levels into the summer. 


sp'daily5

vix'daily3

Summary

VIX is the interesting one right now. A break into the 15s, would open up the 16-18 gap zone again...which would become prime 'dip buying' zone for those who want to get onboard the equity long train.

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Metals are weak. Its a tricky level, and I'm going to sit it out. Safer trade is long, but not at this level.

SLV could easily fall into the low 28s...which would make for a very nice entry.

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VIX video update




back at 2pm