Thursday 12 February 2015

10am update - pushing upward

US equities open decisively higher, with the sp' just 0.7% away from breaking a new historic high. VIX is confirming the move, -4%, set to lose the 16s. Metals are seeing a bounce, Gold +$6. Oil is building strong gains, +2.9%.


sp'60min


VIX'weekly


Summary

A major fail for the equity bears to contain the rally.

Barring some Greek news (seemingly unlikely today/tomorrow), market looks set for net daily gains, and VIX will likely lose the 16s. Seen on the bigger weekly cycle, VIX 15s would be a key sign.
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notable weakness, TSLA -5% @ $201.... post earnings