Market is surpassing the upside expectations of most again, and we're on the border of the 1580s. VIX is holding the opening lows (at least so far), with the precious metals the standout weakest aspect of today. Oil is still lower, but well above the earlier lows.
Is this the capitulation squeeze higher?
What is important is a daily close back in the low 1570s...preferably the 1560s. A VIX back in the low 14s would similarly be useful.
time for lunch.
*I resolutely hold a heavy short index position, seeking an exit 'somewhat lower' by the Friday close.
VIX update from Mr T.
12.10pm...at the current rate, the 15min index cycles will go negative MACD no later than 1pm.
Anyway..long afternoon ahead, I'm kinda interested in how we close the day, not least since I'm heavy short now. No risk......no gain.