12pm update - equities holding gains

Unlike yesterday, US equities are comfortably holding moderate gains, with the sp'500 set to break above soft resistance of 2117 late today/early tomorrow. In either case.. new historic highs in the 2135/45 zone look due before month end. USD has turned a touch positive... helping to cool Oil and metals.


sp'60min

UUP, 60min

Summary

*the turn in USD/Euro is arguably pretty important, but it does NOT feel like a capitulation low.

Best guess.. a 1-2 week bounce.. before another wave lower to DXY 90/89s... and then the retrace from 100.71 will be complete.

If correct, that should at least cool the metals and Oil to some extent.
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VIX update from Mr T.



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time for lunch