12pm update - the battle continues

US equities remain broadly weak, with the bears battling to break <sp'2099. VIX is holding gains of 8% in the upper 14s. Metals remain weak, Gold -$10, with Silver -2.1%.  Oil is sig' weak ahead of the Friday OPEC meeting, -2.2% in the $58s.


sp'60min

VIX'60min

Summary

Certainly the intraday swings are really churning many of the day-traders to pieces.

Best guess... a break <2099... at least to 2090... with the low 2080s more viable tomorrow.. along with VIX 16s.

From there... another Greek can-kick looks due.

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Guest on CNBC-Europe

It is pretty laughable that we're already seeing talk of QE2 from the ECB!  QE1 is set to last 'at least' until Sept'2016, but hell, why not start QE2 before the first PRINT run is complete? Crazy times.
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VIX update from Mr T.



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time for a cool drink.. on a warm summers day in the city.