2pm update - back to melt mode

The US markets are bizarrely back into melt mode, and we're now testing the sp'1669 high. The 1680/85 gap zone is now seemingly viable by mid week, which would likely equate to VIX in the low 15s. Metals/Oil remain slightly lower.


sp'daily5

VIX'daily3

Summary

Hmm, what to say?

If we're trading in the 1690s AFTER mid-week, that would be highly suggestive of new index highs in the coming weeks.

This of course all seems utterly incredible considering the myriad issues out there.
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For the big/serious bear money, the last line in the sand for short-stops is arguably somewhere in the 1690s.

*I've not watched one single minute of clown finance TV today. I feel somewhat better for it.
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For the hyper-bulls out there..here is one to inspire...

Ford, daily

Clearly...making a break for it. If I see the $18s, I'd have to assume the 20s are similarly imminent, which would bode badly for equity bears.


2.12pm..well, there is sp'1670...so the door is open for another 0.75/1.0% higher across the next day or two.