2pm update - churning a floor

The sp'500 is still churning a floor in the low 1890s. A daily close in the 1900s remains possible, and is certainly supported on the 15/60min cycles. Metals are holding gains, whilst the VIX is fractionally red - despite obvious weakness in equities.


sp'60min

Summary

Little to add, on what is a relatively quiet day.
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No doubt there will be some bearish chatter out there this evening, along the lines of 'see...the market didn't break another new high today...we're clearly headed lower now!'.

I'd merely refer anyone to a VIX chart.