1pm update - afternoon chop

Equities will likely see increasing chop into the late afternoon, on what should be a standard quad-opex. Despite the current minor index gains, the VIX is slightly higher, +2%. Metals are moderately lower, Gold -$4.


sp'60min

Summary

*the Italian/Costa Rica game is making for a welcome distraction.
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There really isn't much to add.

It is merely another week for the equity bulls. There is plenty of talk of a wave lower to the 1940s, but there remains the obvious threat that we'll just keep clawing higher.