12pm update - moderate weakness

US equities continue to cool... with a break of the hourly 10MA. For now though.. there appears little chance of significant/sustained downside power. At best, the sp'1960/50s before resuming higher. The sp'2000s still look a relatively easy target. Oil has built powerful gains of 3.7% in the $48s.


sp'60min

VIX'60min

Summary

Having hyper-ramped from sp'1893 on Friday morning to 1991 this morning... 98pts (across 14 trading hours)... a retrace is clearly not exactly a surprise.

There are clear gaps around sp'1950 and VIX 21... so.. right now.. that'd be the more natural level to hit.

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VIX update from Mr T.



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time for tea... and something.. cake?