12pm update - settling in for continued chop

Many traders are very likely just settling in for some moderate chop for the next few days. Market is stuck just under a resistance wall of the sp'1970s... and above first soft support of the mid 1920s. Energy stocks remain under severe pressure, from lower Oil prices.


sp'60min

Summary

Suffice to say... choppy start to the week... but as expected. Another few days of this seems likely... before market picks a direction. I suppose it could drag out into next week, but really.. who wants to be going long >1970, seriously?

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VIX update from Mr T.


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time to cook