12pm update - why would it stop?

The main indexes are comfortably holding onto moderate gains of 0.4% or so. Nothing dramatic, but then, that's the nature of the algo-bot melt. This is week'7...and there is no reason to expect it to end until the POMO program is terminated...which doesn't seem likely for at least another 4-6 months (if ever)


sp'weekly

Summary

Its just another week higher in the US/world markets, everything is outright bullish, and a break into the sp'1600s looks very feasible by April.

The only issue seems to be, do we just ramp into the 1700/1800s by late summer - and then crash (briefly), or do we pull back from 1600 to 1500/1450...before a ramp to 1800s by year end?

Regardless of the near term trends..the long term one looks very clear.
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Metals update..

Metals remain weak...getting kinda close to support on the daily/weekly charts, although the monthly charts offer major downside potential.

So long as the dollar turns back lower within a few weeks, metals should see some significant bounce.


SLV, daily

GLD, daily

Some good volume on the metals today, a lot of the weak bulls being washed out, along with the knife catches being stopped out with this mornings declines.

Clearly, its the 'cartel' right? lol. 
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VIX update, from Mr T..




back at 3pm