12pm update - minor chop

US indexes continue to see minor chop in the sp'1882/72 zone. There is notable strength in the Transports, which is close to breaking another new high in the 7600s. Metals are starting to slip, Gold now just $1 higher, and seemingly about to turn red.


sp'daily5

Summary

So..what to make of this morning?

Simply put, its just minor chop, and equity bears are still showing a complete lack of downside power. There is ZERO reason why anyone should be getting bearish ahead of the next FOMC.

More likely..the bull maniacs will claw another 1-2% higher by next Wednesday afternoon..and then maybe we'll see a turn.
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DRYS, daily

Another fractional break below the 50 day MA, and frankly..if the main market does top next week...DRYS is going to have some real problems. I'll probably look to pick up in the summer.
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VIX update from Mr T




Indeed...no one is expecting any 'issues' between now and next Wednesday (VIX opex)..and the big money is rolling into April or May.
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time for tea :)
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12.12pm... finally checked Copper...and I see its $2.95.

Should be a RED flag for anyone to recognise.

see Finviz for updates.