12pm update - no real downside power

US equities remain a little lower, but clearly, as its another holiday week, there really isn't any volume, and that will generally favour the bulls for another rebound. The sp'500 remains within range for a 2015 closing around 2090.. along with VIX 14s. Oil remains under strong downward pressure, -2.8% in the $36s.


sp'60min

USO, daily2

Summary

re: Oil is clearly keeping some downward pressure on the broader market. For now, Oil looks stuck in the 36/38 zone. At best.. upside to the $40 threshold. Sustained upside >40 looks difficult in Q1.
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Little to add, on what is a naturally quiet New Years Eve.... eve.

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VIX update from Mr T... getting it done !



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time for tea