2pm update - break through

The sp'500 has decisively broken about the declining trend, with a daily close above the key 2100 threshold seemingly likely. Equity bears look toast for rest of the week. VIX is once again reflecting a market that is usually only moderately concerned for mere hours.. never mind days.


sp'60min

VIX'daily3

Summary

*the large black-fail candle on the daily VIX chart tells the tail...  a total equity bear FAIL.  A market that can shake off any moderate concern within a mere hour or two.
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A major equity bear fail today... and unlike last Monday... the sp'500 has achieved clear break above declining trend.

At the moment, it appears bears can write off the rest of the week.. not least since it is opex week.
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back at 3pm