10am update - opening chop

The main indexes open with some minor chop, and there will be another dose of QE-pomo to negate most..if not all of any sell side pressure. Metals are mixed, with underlying downside pressure. Notable early mover..the airline stock United Continental (UAL)


sp'60min

UAL, daily

Summary

*A clear breakout, UAL upside target is the double top from 2007 of $48.
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Choppy open..and I'm guessing that will be the style across the day.

I'd still expect another wave higher across Wed/Thursday.

*bears should keep in mind, next week is a holiday week..there seems next to zero reason why we'll see any sig' price action at all.
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10.03am.. an opening VIX spike..to the previous high of 13.40..and a fail.

Equity bears are likely 'done' for the day, not that I'm expecting new highs today.
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TSLA seeing a rebound, +4%, but really..broader trend is still bearish.