Pre-Market Brief

Good morning. Futures are set to open higher again (8'th day running), sp +5pts, taking the market to 1877. Metals are a touch higher, Gold +$2. Equity bulls just need a daily close >1875, which should confirm that 1883 will be broken this week..opening up much higher levels into May.


sp'daily5

Summary

Well, either this market is going to put in an epic fail, or we're going to break new highs..and keep pushing.

For those on the short side, we're fast approaching total white flag territory.

Frankly, it looks lousy for those in bear land, and it makes the last few weeks a complete waste of time.

I expect to get hit on a short-stop today, in the low 1880s.


9.38am... no new index highs..yet... but we're damn close..not least in the Trans.

awaiting a trio of econ-data..across the next 20mins.
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9.43am.. opening reversal candle on the VIX, although yes..they sure haven't been reliable lately

VIX remains crushed..in the 13.40s.

Laughably, even the 14s now look difficult.

Is this capitulation?