12pm update - nothing significant

The market breaks (fractionally) the 1563 high, but now we've seen a reversal.  Yet, its really not that significant. Near term cycle still suggest upside into the 1570s. USD remains higher, VIX is cooling down after its mini ramp. Precious metals still trying to climb.


sp'60min

vix'60min

Summary

I suppose you could count this mornings action as a micro wave'2 of sub wave'3.

I don't know, its just a vague guess, but what I do know, I sure don't smell any major downside for this week.

The bears are surely going to have to wait until next week.

*there is big POMO on Thursday to conclude the trading week...and Month. Not exactly bearish!
--

VIX update




back at 2pm