12pm update - latter day ramp?

US indexes are still holding borderline significant declines, but there is now fair likelihood we have seen (at least for today), a floor in the upper sp'1830s. Metals are building strong gains, with Gold +$28, and Silver +2.0%. Oil is holding 2% gains, but Nat'gas has (surprisingly) turned red.


sp'60min

GLD, daily

Summary

So much to cover...hard to keep up today.

Suffice to say, the equity bears are STILL not showing any significant downside power. We didn't open -2%...and we have a VIX which is struggling to hold the mid teens, and that is after Russia invaded another country!

When I really think about it..it is truly incredible that we aren't in the VIX 30s...or 40s right now. If Ukraine fights back, we're looking at something that could seriously get ugly.

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VIX update from Mr T.


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time for tea :)
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12.12pm... finally, the VIX breaks the opening high, and the indexes are seeing another wave lower.

Still...this is nothing 'major'...yet.

Next support is clearly the 1830/26 zone...which would equate to VIX 17/18. 


12.16pm...really whipsawing now....1834...to 1840...and it sure is a bit wild-west today.