sp'60min
VIX'60min
Summary
*a rather clear bullish price structure in the VIX... the 18/20 zone really isn't that bold a target
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A marginally interesting open, but for now... there is barely any downside power. Hell, even a move to 2090 later today would be little solace to those short from anywhere >2060.
I'm still of the view that the market will NOT make new historic highs (in sp'500/Dow.. not other indexes.. which are lagging anyway).. before a retrace.
Basic target remains 2065/60.. then 2025/20.
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*Yellen is due to speak to the US house... I'm unaware if that will get any live coverage.
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Awaiting EIA oil report at (10.30am)
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10.36am.. Oil inventory surplus.. 2.8 million barrels.. less than last week, but still.. .a sig' surplus.