12pm update - much higher levels coming

The big sp'1800 level now looks to be first support, and a weekly close in the 1820s looks probable. VIX earlier broke into the 12s, and 11s are now viable to end the year. It remains a fearless market..still fuelled by heavy QE, with broad upside into the late spring.


sp'60min

Summary

A morning of slight weakness..some chop...a daily marginally positive close looks likely.

VIX is indicative of a market that has seen a clear turn.
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Notable weakness in Ford...the low 14s are expected

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VIX update from Mr T.



time for tea. :)