11am update - back to minor chop

Having broken a new high of sp'2009, we're back to minor chop. Price action remains pretty strong, and overall structure bodes for the 2025/30 zone in the immediate term. VIX is reflective of a market that has no fear of anything.. least of all the Ukraine.


sp'daily5

Summary

*Oil +1.0%, whilst Nat Gas -1.5%
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Minor chop looks set to continue into the early afternoon.

We do have the Fed beige book at 2pm..that should give another excuse for upside into the close. The real action though...tomorrow... via the ECB. Mr Draghi had better not disappoint.

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Notable weakness, AAPL -2.8%,   airlines, DAL -4.8%