2pm update - chop chop

Market is holding around the low 1550s, and it seems we'll likely close around current levels. Precious metals have lost much of their opening gains, and Silver is red again. Oil is a touch weak, but looks set for moderate gains across Mon/Tuesday.





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*with the hourly charts largely the same, here are the daily ones...


sp'daily5

VIX'daily3

Summary

The H/S formation idea is just that...an idea..but its something I will be watching carefully next week.

Bears need a clear RS around the 1570s..and then a major push down to 1490/80s by early May.
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Its nice to be on the sidelines ahead of the weekend..and besides, no point being short with the current immediate trend.