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.
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.
VIX update from Mr T.
time for tea... and something.. cake?