12pm update - at resistance

The sp'500 is at key resistance of 2097, a daily close would bode strongly for the bulls for the rest of the week. VIX is reflecting a market that is only fractionally concerned, +3% in the 13.20s. The big 20 threshold looks out of range for some weeks.


sp'60min

VIX'60min

Summary

It remains a lame.. and frustrating start to the week.... although somewhat less disturbing than last Monday.

Near term trend is clearly bullish...   if the market is going to rollover again.. it needs to happen from current levels.... as there will surely be a truck load of short-stops in the low sp'2100s.

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VIX update from Mr T.



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time for tea