12pm update - waiting for it to level

The indexes are comfortably holding to moderate gains of around 0.7%. The VIX has been whacked another 11% lower. The hourly cycles are very primed to level out this afternoon. Metals are weak, despite a similarly weaker dollar.


sp'60min

vix'60min

Summary

Hmm....indexes still showing NO sign of levelling out.

I'm giving it another 2-3 hrs. Lets see where are around 2.30/3pm.

I still think very significant chance of a fifth wave lower. As it is, if we max out late this afternoon, the fifth wave would most probably complete early Friday. - March 1'st

*today was a very large POMO of 4-5bn. Hmmm indeed !
--
time for lunch

*VIX update from Mr T.




back at 2pm