1pm update - minor down wave

A minor down wave from sp'2114 to 2109, with VIX to the 13.50s... but regardless of any intraday weakness, the equity bulls have achieved another key victory today with new historic highs on a trio of indexes. Metals remain weak, Gold -$2, with the miners ETF of GDX -2.1%


sp'60min

Summary

Little to add. A net daily decline looks increasingly unlikely. The opening black-fail candle in the VIX was arguably the tell.
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Key break levels remain sp'2103/00 zone.. along with VIX 14s. Until that is achieved... hopes of a retrace.. remain just that.
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Notable weakness: CHK -2.3%...

...merely continuing to slip after last weeks horror. Downside target zone remains 12/10... which looks well within range this spring/early summer.