12pm update - a key turn is underway

The main indexes are breaking out, and confirming some of the initial bullish signals seen yesterday. The sp' could close in the 1700s today, which will no doubt bemuse the mainstream. Metals remain severely lower, Gold -$36. Oil is weak, -0.9% VIX can no longer hold the 16s.


sp'daily5

Summary

The above chart is really all that is needed to show what has happened this morning.
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However, since it is a new month, the bigger monthly charts are important to keep in mind.

sp'monthly

The upper bollinger on the sp' has jumped into the 1740s.

If we do manage to trade into the 1740s this October...it'll further rise into the 1750s.

So..'best bull case' of 1760/70s look viable...this month!
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VIX update from Mr P.



time for tea!