12pm update - above resistance

US equities achieve a clear break above declining resistance (from the sp'2116 high). Upside to the sp'2070/75 zone looks probable in the immediate term, before renewed threat of cooling. VIX appears headed for the 16.75/16.25 zone. Metals remain weak, Gold -$1. Oil is cooling after inventories, -0.5%.


sp'60min

VIX'60min

Summary

*I've added a fib retrace to the hourly cycle. It assumes we'll max out this afternoon, and then cool.

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With the break above resistance, the 2030s are now off the menu. At best.. the 2050/45 zone.

So.. a break through, and the 2019 low looks even more secure.

Anyone heavy short is facing a real problem right now. Gods help them... as the 2100s still look due.. whether a retrace or not.

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VIX update from Mr T.



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time for tea.