2pm update - clawing upward

US equities continue to claw upward, whilst the maniacs at print HQ are sitting at a big table, discussing how they are in control of the US and world economy. Meanwhile, it is increasingly amusing to see how bullish the cheerleaders are becoming on clown finance TV, after all, everything is fine again, yes?


sp'60min

sp'daily5b

Summary

re: daily5b: considering the bigger weekly cycles, I'm going with scenario'2.

I certainly do NOT see the market sustainably >2K any time soon... but neither do I see an imminent collapse wave to the 1700/1600s.

For the moment... the more cautious can quietly remain on the sidelines.
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notable mover...

TVIX -8.6% @ $9.20.. as market volatility continues to cool. The 7s look due, given another 2-3 weeks.

It should be clear though, VIX 40s are coming.. along with sp <1800.
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