11am update - market teasing the bears

The main indexes see a minor slip from sp'1651 to 1645, but its very likely just a little tease. There is no power on the downside likely today..or tomorrow. Bulls look set for a close in the 1650s..and that should open up 1665/70 by early Thursday. Metals are holding gains.


sp'60min

sp'daily4b

Summary

Indeed, I think Mr Market has just teased the bears..with further upside/melt across the day.

Surely, no point in getting involved today.

VIX is -2.5% or so...a close in the 15s would certainly be suggestive of further equity gains for Wednesday.


11.24am..hmm, interesting..we're seeing the biggest 15min drop in some days...1642s.

A break <1636 would make things real interesting. Regardless, I ain't getting involved.

 *it would seem market is annoyed with Boehner pro-war comments 


11.31am.. sp'1639s...hmm..and cycle about to go negative. Well, those shorting the open...are enjoying this little drop..the biggest 15min intra-day drop in weeks.perhaps months.