12pm update - not surprisingly positive

With powerless equity bears, US equity indexes have already turned marginally positive, and it seems just a matter of which day this week the sp'500 will be trading in the 2020s. VIX is +1% in the low 17s.. but looks vulnerable for a red close. Gold is +$5, with the miner ETF of GDX +3.6% in the $20.40s.


sp'daily

Summary

*it is notable that we're currently net higher for the fifth consecutive day, the best run since mid Dec'2014.
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Little to add.

There is zero reason to see the market see any sig' weakness until the ECB this Thursday. That would be the valid excuse.

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notable weakness, TVIX, daily

With the VIX remaining broadly subdued, TVIX is already negative, and the 5s look viable if sp'2030/40s, and VIX 14/13s.
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time for tea