2pm update - back to flat

Its turning into something of a dull end to the week. The market is back to flat, and there is simply very little going on. VIX has no consistent power, and is melting lower, -2% in the mid 16s. VIX 20s look very difficult for next week, not least with the market closed for 1.5 days.


sp'15min

Trans' weekly

Summary

Despite the weekly gains, the Trans is still holding a red candle on the week, so there is still some hint of weakness for next week.
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Overall though, its been a week for the bulls, from 1560 to the low 1600s, no doubt helped by 3 mid-sized doses of QE-pomo.


2.22pm, a touch of weakness, but until <1610, its still all...noise.

Metals sharply higher, but on the month..Gold is -$153, and Silver -$2.50

Anyone getting hysterical over todays rise is going to be just as disappointed as those calling a floor in mid-April.