1pm update - choppy.. but underlying strength

Equities remains somewhat choppy, but clearly, there is underlying upward pressure. A daily close in the sp'1955/65 zone now looks probable, along with VIX cooling to the 24s. Oil is battling to hold sig' gains, +2.6% in the $45s... with further upside to the $50 threshold into next week.


sp'60min

VIX'60min

Summary

*I did mention it after the open, but we did see an opening black-fail candle on the VIX. Renewed downside looks due.

I STRONGLY recommend the VIX update from Mr T.   see 12pm update.

That was one hell of a large trade.. with someone closing out VIX upside protection into Sept' opex.
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stay tuned!