sp'60min
vix'60min
Summary
So..nothing dramatic..and its clear..bears have a mighty battle today to get a weekly close <sp'1580 - which is where the weekly charts flip back from what are currently renewed bullish outlooks.
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*I exited USO (short) at the open, am sitting back now.
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A close under sp'1580 is so important..lets see if the bears can build downside momentum across the day.
Considering the opening 30 minutes though..it ain't looking good for the 1570s. Maybe a secondary/late day decline?
10am..consumer sentiment 72.3... disapointing..and market slips a bit.
GOLD breaks the Dec'2011 low..and there is now empty air of at least $100 downside.
*stockcharts is NOT showing it, but GLD was trading <148.27..and hit 148.11 just now.
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maybe it will be bearish morning after all?
UPDATE 10.23 am..
Oil remains one of two key things to watch for the much awaited second deflationary collapse wave.
USO (Oil) remains on the edge of breaking through a giant wedge/triangle...which as many realise..Copper did a few weeks ago.
back at 11am