12pm update - a blue candle

US equities have built significant gains, and there is now threat of a weekly close in the sp'1920s - which would make for a rather bullish weekly candle. VIX remains in cooling mode, -7% in the 20.80s. Oil is continuing to retrace, -2.6% in the $33s.


sp'weekly6

Summary

*note the MACD (green bar histogram), levelling out.. set to tick upward for a few weeks.
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Suffice to add, the first blue candle.. and its highly indicative that the 1940/70 zone will be hit within the first half of February.

To me, the only issue is how many blue candles might we see before the next rollover. 3, 4, 5... it won't be that many before next down wave.

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VIX update from Mr T.




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time for lunch