The indexes continue in melt mode. There is little reason to assume a significant drop any time soon. Meanwhile, the VIX is flat lining, and so far this year, VIX is yet to breach 20. Are we looking at an entire year under VIX 20?
VIX, 20yr, rainbow
The last year that failed to see VIX (at least briefly) in the 20s, was 2005. Before that, 1995.
One interesting stock right now is FCX. Its trying to break out of a bear flag, and long term down channel.
A daily close >$33, this week would be impressive.
UPDATE 1.17pm.. after a mixed morning, metals are starting to ramp, especially Gold, which is on the edge of breaking into the next zone of open air.
A viable 40-60$ upside across the next 3-7 days.