3pm update - melting into the weekend

The main indexes are quietly melting into the weekend, and there remains a small bias to the upside. Market still looks set to move into the sp'1675/85 zone next week. Whether that is done in one big leap on Monday...or drags out across Tue/Wednesday...we'll soon see.


sp'60min

vix'60min

Summary

*note the VIX, doing its typical 'melt lower' into the weekend.

No point bears taking new short positions into the weekend, not least the options traders.
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I continue...the patient bear..seeking a major re-short on the indexes...next week.

A trade from the 1675/85 zone...down to the 1600/1575 level..will make all the waiting...worthwhile.
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*metals looking strong..5-7% higher to go...

GLD, daily

142s look viable