1pm update - awaiting another push higher

US equities are seeing some lunch time chop, however, the smaller 15/60min cycles are all suggestive of upside across the afternoon. A daily close in the sp'1850s is still sought. Metals are slowly building gains..Gold +$5. VIX is a little lower, -0.5%.


sp'60min

Summary

Underlying MACD (blue bar histogram) cycle has not yet confirmed a turn back to the upside, but clearly, we're already negative cycle - the bears have had their retracement, a somewhat laughable -0.3%
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Notable weakness, UGAZ

We're seeing some moderate follow through to the downside after yesterdays severe reversal. Nothing bullish here..and we're another day closer to spring. Seasonally, the Nat' gas bulls are now starting to fight the green shoots of spring!