12pm update - churning a floor

US equities continue in the process of churning a floor, with the sp' currently stuck in the 1959/65 zone. A late afternoon climb into the 1970s is still viable, but regardless... equity bears are lacking any downside power today. VIX remains fractionally lower.


sp'60min

Summary

So... the indexes are seeing some minor weak chop, and for many..today is turning out to be a day of nothing.

Certainly, there seems no chance of breaking the 1952 low, the only issue is whether we close in the 1960s... or 70s.

On any fair outlook, the sp'1990/2000s look highly probable.. whether next week or a little further out... makes no difference.
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VIX update from Mr T.


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time to check on the cheerleaders on clown finance TV.