sp'60min
sp'daily5
Summary
It would seem yesterday's upside break above resistance was indeed a FAILED break.
So... original target of the low 2080s is back on... along with VIX 16s.
To be absolutely clear though, I do not believe a key mid-term top is yet in.
Best guess.... sp'2080s with VIX 16s... and then upside into the FOMC.... possibly early July... to sp'2160/80s.... and then a major rollover across the summer/early autumn.
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Update from a typically loud Oscar
I find it interesting that Oscar seems a little concern about 'if market fails to make a new high'.
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Keep in mind that tomorrow will be a more important day, with not only the monthly jobs data, but the bi-annual OPEC meeting... where Oil might see a major one day drop as supply will not likely be cut.
Further, unless Greece agree a deal before the market close, there will be a rather huge aspect of 'who wants to dare hold long across the weekend?'.
Enjoy your Thursday!
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9.34am.. the sp'2099 double low.. set to be taken out... which will likely clarify that the low 2080s are due.
Eyes to the VIX... for a move into the 15s