2pm update - quiet afternoon

The indexes are marginally higher still, but its turned out to become a very quiet day. There is nothing going on, and it seems everyone is now sitting back and waiting for the Friday headline jobs data. Dollar continues to hold significant gains, metals and Oil holding above earlier lows.


sp'daily5

vix'daily3

Summary

VIX still looks like it'll be trading in the 12s..if not the 11s next week.

Target remains sp'1550/60s..which is easily viable. The big issue is whether we'll just keep on melting up into April..before having our first chance of a 10% down wave.

There ARE many bearish issues out there, but as I keep noting..the relentless daily dose of POMO remains a real problem for those seeking multi-week downside.

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I am back on the Silver train...and will also hold long Oil too.

SLV,daily2

I have to think, the low 29s are very reasonable target.

back at 3pm