2pm update - white flag waving time

With the indexes continuing to build gains, it would seem the equity bears had one significant down day..and that is it. Truly frustrating, but then...it remains a hyper-ramp of almost 70% across the last two years. Metals remain weak, Gold -$21. VIX..slipping 4.5% in the 13.20s.


sp'daily5

Summary

Baring a late day reversal...it would appear the C/3 wave (or whatever you want to call it)..is indeed done.

Hell, even the 1730s - a level that I thought viable, now seems out of range. I can only imagine the horror those who were touting sub 1700s are now feeling.


Despite the index gains, the hysteria that is TWTR is not looking so great...

Sub'40s would bode for sig' declines across the rest of the month. After all, is anyone going to be placing buy orders >$50 any time soon?
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sp'60min

It has been a real mess across the last 3 trading weeks..we really been stuck in a tight range of 2-3% for most indexes 

I still see the whole situation as largely untradeable on the short side. Even if you caught the two recent tops at 1775/74, downside is only 1.5% or so...and that is best case entry/exit.