10am update - a few more days

Market is opening with micro-chop, and is now fractionally higher. There is little reason why the bears are going to be able to push significantly lower until the latter part of this week. VIX jumps 5% at the open, but doesn't look like that will hold. Silver..is getting smacked lower.


sp'daily5

vix'daily3

Summary

I think bears are going to have to wait until at least Wednesday, if not early Thursday for a break of soft rising support, which is arguably now around 1555/60.

Daily MACD is ticking higher, and on any basis, is likely to do so until Wednesday..even if we see sideways chop in prices.


*As for metals...

Silver is smacked significantly lower again at the open, although Gold is flat. Lets see if Silver can again put in a reversal, yet the last one sure didn't work out well. Its not looking good though