10am update - opening weakness

US equities open lower, with the sp' offering an early floor of 2085. VIX has seen a jump into the low 15s, +7%... but viable to a negative close. With the moderate market concerns, metals have bounced, Gold +$8, but is highly vulnerable to turning lower.


sp'60min

VIX'60min

Summary

*notable black-fail candle on the VIX...  equity bears... beware!
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An interesting open, and it should be enough to have satisfied the algo-bots to wash out the weaker bulls.
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notable strength: SDRL +3.8%... the higher oil prices are helping
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*I am once again short Gold via GLD..  I might exit later today if GLD turns somewhat negative. In any case.. it should be a case of short every bounce until $1000 this summer.


10.10am. It increasingly looks like sp'2085 was an early low.. along with VIX 15s.

A latter day recovery is very probable, a net daily gain in the sp'2100s is on the menu, with VIX 13s.