10am update - morning gains

Good morning. Mr Market opens with some gains, the only issue now is whether we make a challenge today of the Oct'2007 high of sp'1576. Equity bears should be very mindful across the next 6-10 trading hours of a possible swift reversal. USD is a touch higher, Metals are sharply lower.


sp'60min

VIX'60min

Summary

So, we open somewhat higher, and everything is fine, yes?

Cyprus is clearly back to normal, and the green shoots of spring are going to appear everywhere across the northern hemisphere in the days ahead.
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As for the metals, I'm not sure why they have again got the smack down, but then, near term trend is downward. Whether this is beginning of a April/May collapse wave...impossible to know.
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USO (Oil)..along with the indexes will be a valid short later today/tomorrow.

Lets see this morning pans out first.

UPDATE 11.30am...we're getting there...sp' 1573s...just another few hours maybe..