3pm update - melt into the close?

The main market is holding comfortably in the sp'1650s. Bulls should aim to break the June'18 high of 1654. Anything over that, arguably makes the 1700s a given by early August. Bears remain obliterated, with the VIX set to lose the 14s.


sp'daily5

vix'daily3

Summary

Considering another QE is scheduled for tomorrow, you'd have to expect the algo-bots will want to front run it.

No reason why we won't at least hold flat, or even climb into the close.

After relative weakness, Oil is melting higher, now up almost 1%


3.17pm.. sp'1653..just 1pt away from hitting a few more short-stops from the 1654 high.

I would guess the bots will manage to spike through this.