10am update - morning chop

Main indexes are mixed. Precious metals remain weak, although Silver looks like it might turn positive this morning. Oil is moderately higher, but the smaller 15/60min cycles all offer weakness as the day proceeds. VIX daily chart is warning of index downside into Friday.


sp'60min

VIX'daily3

Summary

Hourly charts look.. VERY tired.

Best bear case is a close in the low sp'1640s. So, in theory we could close -15/20 pts today.

Yet, tomorrow is opex, 5bn pomo. I would be very surprised if we see two major down days in a row.
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*Oil swung around in pre-market, and is trading moderately higher. I certainly won't chase it higher.
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