12pm update - bouncing as expected

US equities are seeing a rather typical post 11am bounce... already climbing from an early low of sp'2087 to 2097. There should be some sig' resistance around 2100, with renewed weakness in the late afternoon. VIX is reflecting a market that broadly though.. has no real fear of anything.


sp'60min

Summary

Suffice to say... bears should be looking for a daily close in the sp'2080s... along with VIX 15/16s.
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*awaiting Fed beige book, due 2pm
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Notable weakness: AA, -5.1% in the $14.40s.

Pretty ugly since early February, and the bigger monthly cycle is warning of a viable move to the 12/9 zone by late summer.
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VIX update from Mr T.



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back at 1pm