11am update - still nothing significant

US equities remain in the red, but the declines certainly don't rate as significant, and there will always remain the threat (if not likelihood) of latter day upside. Until a break <sp'2100, there is simply nothing for the bears to get even marginally excited about.


sp'daily5

Summary

*metals have just turned red, with Gold losing gains of $8.... outlook across the coming spring/summer... looks pretty dire.
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Overall, it remains pretty tedious. Underlying pressure remains powerfully to the upside.

It remains lame how even a brief retrace/test to the 50dma - now in the 2060s, is about the best the bears can hope for. The giant 2K threshold looks set to hold for some months... if not the year.

At best... on a break <2100, VIX to the 16/17s....  with the 20 threshold now out of range on the next up wave.

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Notable weakness, Ford

Eventually... Ford should see a monthly close in the $18s... which will be a key warning that a broader hyper-ramp is underway in second half of the year.
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11.14am.. Well... there are the VIX 14s... now just waiting on sp <2100...

Meanwhile.. clown finance TV decides to focus on Netanyahu....

Notable reversal in Gold, from +$8... to -$2....


11.27am... Ohh... now Net' has mentioned 'Game of Thrones'.  So.. is he Drogo.. or... ?


11.34am.. BREAK.... VIX 14s.. with sp'2101...      first target is 2065.