11am update - remaining weak

Regardless of any intraday bounce, US equities appear pretty weak, with a net daily decline highly probable. VIX has already come close (16.66) to breaking first key target of 17.19. Metals have built strong gains to start Q2, Gold +$16. With inventories coming in a little lower (4.8 million barrels) than expected, Oil is +1.9%


sp'daily5

sp'monthly3e

Summary

*normal 'chart service' will resume at 12pm :)
--

A little bounce into the afternoon would be very natural, but it will do nothing to negate yesterday afternoons break of rising trend (sp'2072).

The damage has been done, market looks set to test the 2039 low.. and take it out.

Monthly MACD downside pressure has ticked lower, and is now in the -5s... the lowest level since late 2011. Momentum is increasingly swinging to the equity bears.

--
Meanwhile.. in far more important news for the US capital markets...

Danica knows who her daddy is

--
stay tuned.