12pm update - holding gains

Equities are holding almost all of the morning gains, with the sp' in the low 2050s. VIX has significantly cooled, -11% in the low 16s. Metals are back to flat, whilst energy prices are weak, Nat' gas -0.6%, with Oil -0.8%.


sp'60min

USO, daily

Summary

We have two marginally spiky-top candles on the sp'500, but still.. no clear sign of this latest up wave maxing out. A bounce this morning was certainly no surprise, but not of this magnitude.. or duration.

Regardless, primary downside target remains sp'2000.. but with this mornings gains, that is not viable until next week.
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As for Oil... according to finviz, we hit a low of $60.09, but considering that OPEC will not likely announce any initial threat to reduce supplies.. at least until January... sub 60s still look due.

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VIX update from Mr T.


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time for tea, back at 2pm