11am update - renewed weakness

With no one willing to buy above sp'2088... the market has naturally rolled over again, into the sp'2070s. Metals remain weak, Gold -$8, with Silver -1.8%. Oil has turned negative, -0.2%.. the $50 threshold looks set to fail.


sp'60min

USO, 60min

Summary

*I continue to keep an eye on Oil... but am not particularly in the mood to get involved today. Will consider going long tomorrow.
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So... sp'2077... with VIX +3% in the 14.40s. A daily close <2070 with VIX 15s should be first objective for the bears.

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notable weakness, AA -5.1%.. as Mr Market is uninspired by earnings.. or the CEO 


11.35am.. Another fractional break of the 50dma (now 2075)... but bears just not showing any sustained downside power.... as reflected in a VIX that is barely positive.