12pm update - latter day...melt

Market is now only 0.2% lower, and looks set to close marginally green. VIX is still a touch higher, but will surely close red. Oil is lower, and resting around key resistance. Gold is moderately higher, whilst Silver is trying to rally, after a sharp opening gap lower.


sp'daily5

VIX'daily3

SLV, daily2

Summary

VIX presenting a large black/fail candle, very suggestive that the main indexes will indeed close green. 

There is no reason to be short ahead of the Easter weekend, is there?
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Silver is somewhat stable above the opening lows, but metal bulls will want to see the 27.90s late today/early tomorrow.  Weekly charts continue to warn of upside, at least a challenge of the declining resistance, which is in the low 29s.
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VIX update..from Mr T.



back at 2pm