10am update - opening chop

US equities open to new cycle highs, with sp'2066.. but the market is looking somewhat choppy. Underlying price momentum remains extremely strong. Energy prices are very mixed, Nat' gas -4.5%, whilst Oil is holding sig' gains of 2.1%.


sp'60min

Summary

So.. choppy open, but then its quad-opex.. and it'd not be surprising to see an entire day of chop.

Notable strength in the energy sector... helped by gains in Oil.

I am calling a micro double floor in Oil.. as seen on USO....

USO, 15min

$20.53 was the first low.... 20.54 yesterday... and now we're safely above the danger zone. Target upside is 27/30 by late spring... which would equate to WTIC Oil in the mid $70s.
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time to shop...back soon.


10.30am... back from a brief retail mission...

so.. choppy, but we did break to sp'1970.

VIX is melting lower.. headed for sub-teens...possibly by xmas Eve.

Regardless.. this is no market for anyone to short (aside from metals/miners)