3pm update - tricky close to call

Despite the ongoing little ramp from sp'1834 to 1848, the closing hour is a tricky one to call. Clearly, some minor chop is likely, and some will bail into the close - concerned with possible overnight bad news from Russia/Urkraine. Metals look set to close with strong gains, Gold +$25


sp'daily5

Summary

Equity bulls should be content with any close in the 1840s..never mind the 1850s!
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Price action remains in favour of the bulls..and you can imagine if market likes the jobs data this Friday, then a weekly close in the 1870/80s is just about viable - again, assuming Ukraine doesn't start shooting down Russian jets.
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updates into the close..if I can stay awake.
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3.08pm... chop chop...with the VIX trying to hold the low 16s into the close.

Overall though...equity bulls held the bears pretty well.

Notable weakness : UGAZ -8%......a real surprise there.


3.35pm...the minor chop continues...  as noted..equity bulls should be content with ANY close >1840.

Anyway, at least the week started..not boring!