11am update - a higher low

US equities are offering an early floor of sp'2085... with VIX having maxed out @ 15.13. A latter day rally appears underway... with a net daily gain in the sp'2100s now viable. With bond yields cooling and the market calming down, the metals are already cooling from opening highs, Gold +$6.


sp'60min

VIX'60min

Summary

So... opening declines.. but we're already seeing a strong bounce... and it looks like it could be a rather standard 'turnaround Tuesday'.

Bears had a clear warning at the open via a black-fail candle on the VIX.

For the bulls, with a higher low of 2085, now its case of battling to break above 2117... and then new historic highs >2125. That is certainly viable before the Friday close.

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*I remain focused on Gold, and am currently short via GLD

15min

I'll look to close out if Gold is moderately lower this afternoon.