10am update - climbing into the weekend

The main market is opening higher. The gains are certainly only moderate, but the bulls only need to consolidate sideways for a few hours, and then melt slowly upward into the weekend. Oil is higher, precious metals open significantly lower, but recovering. USD a touch lower.


sp'60min

sp'daily5

Summary

So, we're opening somewhat higher, back into those 1550s. Frankly, the bulls really only need to hold the low 1550s for the close, and that would at least still easily open up the 1570s for Mon/Tuesday.

Unless some news update from Cyprus upsets the market, we ain't going lower today, certainly the 1538 low should hold.
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*I exited USO (long Oil) at the open

The opening black candle on the 15min, not exactly the most bullish of starts, I'm out of that. Could certainly go a lot higher by the close, although I won't be meddling with it again today.

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Long SLV at the open, seeking exit in the low 28s

VIX 60min

VIX hourly is offering a reversal candle, but unlike SLV, I don't much trust this one. VIX could easily close in the low 12s, even the 11s if the market can ramp into the weekend at a new high >1563.