12pm update - minor weakness

US equities are so far unable to hold above the gap zone of sp'2102/04, with a rather clear opening spiky candle of 2109 on the hourly cycle. However, renewed upside is still expected, wtih a key break above resistance of 2111. There is simply no real downside power.


sp'60min

VIX'60min

Summary

A pretty quiet morning, aside from the individual movers.

notable weakness, oil/gas drillers, RIG/SDRL, both lower by around -4%, but its probably just a minor retrace after the recent very strong gains.

*Indeed, even though Oil is currently -0.8%... the broader trend is UP.. headed for $60... and probably 67/75 zone this summer.

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VIX update from Mr T


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time to cook