11am update - broadly higher

The market is comfortably holding the sp'1640s. Mid-term upside into August looks to be somewhere in the 1700s. Precious metals are holding gains of ove r1%, but Oil is surprisingly weak, but still above the big $100 threshold (the new floor?).


sp'60min3

VIX'daily3

Summary

VIX is a touch higher, but really, that is surely to be just dismissed as 'noise'. With the current downside momentum, VIX looks set to be weak for at least another few weeks.
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So, sp'1643, and its just another summers day...bear weather....not.
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*I remain on the sidelines, am in no hurry to go long, and most definately...not intending to short the main market any time soon.


11.32am  There is some weakness, we're due a small down cycle.

Obvious gap to fill @ sp'1632.

Indexes could in theory go briefly red, but still..primary trend is UP.
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