12pm update - sp'1700s imminent

The main indexes are comfortably holding moderate gains after the micro opening chop. Most notable action today remains in the Precious metals/miners, with Gold +$35, and Silver almost a full dollar. WTIC Oil is the one weak spot, but still looks set for $110 this week, or early next.


sp'daily5

Summary

So...barely a few hours into the trading week, and we're already seeing the old nonsense, that is the 'algo-bot slow motion upward melt'.

This could last ALL week, not least with two sig' QEs - Tue/Thursday.

For the bears out there, this is no market to be part of.

The 'best bear case' right now, we max out early next week, and then the July'31 FOMC/GDP sends the market into a bit of a mood.
--

VIX update from Mr T.



time for lunch :)