sp'60min
Summary
For those closely watching...we're fast approaching the typical turn hour of the day.
...who wants to go long here?
...thats right...I didn't think so.
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A marginally red equity close..along with VIX back in the 20s..very viable.
Notable strength : UGAZ +26%....
One of the few times when holding a 3x lev' ETF doesn't result in net multi-month gains. Soaring nat' gas prices..that is bullish US consumer..yes?
2.25pm.. well, we're 5mins away from the typical turn time.
Equity bears have 95mins to close this market fractionally red, not that its 'necessary' anyway. Broader trends remain bearish, with old 1770 support...now resistance.
2.40pm... closing target... sp <1747..with VIX 19.50>