1pm update - the confident market

US equities are continuing to build gains, with the sp' fractionally breaking the Aug'28th high of 1993. The big 2000 threshold is clearly viable in the immediate term.. where no doubt.. a truck load of short-stops lay. Indeed, the 2050/70 zone remains 'best bull case' into next week.


sp'60min

VIX'daily3

Summary

*note the daily lower bollinger on the VIX.. now in the 15.50s.. and rising each day.
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Clearly, the sp' 2K threshold is now viable in the immediate term, and regardless of when its hit.. it should be clear to most. .we're likely headed to either the 50... or 200dma.. in the 2040/70s.

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*I am on the sidelines. Unless oil cools 1-2%... I'm not likely getting involved in the remainder of this up wave from sp'1867.

Instead, I am merely considering my short-side targets... with min' target of sp'1900 by mid Oct'.
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1.28pm.. Eyes on USO

I'd consider picking up again.. in the 2pm hour