12pm update - resilient market

The market has broken slightly above the sp'1648 high, and the door is now open to  the inverse H/S target of 1670/75. Metals remain weak, but off their lows. Despite the equity upside, VIX is holding up well, just -0.5%


sp'60min'3 - inv. H/S

Summary

So, we're cruising slowly upward. No doubt this is annoying those who continue to keep re-shorting, despite the daily charts...

See the MACD cycle, I've added a 'vague guess' for the cycles across July.

Generally, I'll refrain from any short positions until late July, when we might be in the sp'1725/50 area. 

Frankly, the daily MACD cycle should terrify the bears right now. its suggestive of huge upside for the rest of this week.

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*I remain content to be on the sidelines..with no plan to do anything until Thursday.


UPDATE from Oscar



As ever...bullish on equities...very bearish on the ratty bonds.