12pm update - clearing the 50dma

US equities continue to build gains, with the sp'500 already breaking above the 50dma of 2059. A daily close in the 2055/65 zone looks very probable... offering 2075/80 for the weekly close. VIX is naturally cooling, -6% in the mid 15s. Metals and Oil are both weak.. despite a softening USD.


sp'daily5

Summary

Market looks pretty strong, and no doubt a lot of bears are running for cover... which should take us broadly higher into the weekend.

The big issue is whether we'll see a lower high next week.. with a resumed move to the 200dma around sp'2k... but more on that later...
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Notable strength: Ford (F) +1.9%
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VIX update from Mr T.


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time for lunch.. back at 1pm