1pm update - bears waving white flags

Market remains comfortably holding the morning gains of over 1%. Both Transports and R2K are leading again, both with gains of 1.6%, but still below recent highs. VIX has briefly gone green, but its arguably to be dismissed as noise. Bulls are clearly back in control.


sp'daily5

vix'daily3

Summary

Even if today was merely the last part of a capitulation wave higher, its still zero consolation.

The short-stop levels were clear, for the big/serious money, 1573/74 was an obvious 'get out' level..and we're already almost 1% above it.

Daily charts offer NO hope in the immediate time frame for the bears.

Its time for bears to wave the white flag of surrender.

*I just exited a SPY put block...so THERE is your capitulation.

Congrats.. bulls.. you win.
--

1.30pm... a look at Oil , via ETF of USO

I'm tempted for a 'brief' short from the 33.90s., maybe before the close.

12pm update - to the proverbial moon

The markets brief relapse from the 'everything is okay' delusion last Friday morning now seems like a very long time ago. Mr Market is comfortably trading in historic territory, in the sp'1580s..and is showing NO sign stopping. Precious metals are very weak.


sp'60min

sp'daily5

SLV, daily

Summary

What to say? Bears have again seen what seemed like an initial down cycle, rip back upward, and we're now in record territory on another headline index.

Yes, the transports and Rus'2000 small cap are still lagging, and below recent highs, but...the main market is simply ignoring it.
--

VIX is trying to floor, but again, the daily charts aren't showing anything good for the bears now.

--

Worse of all though, the weekly index charts are back to an outright bullish trend.

Baring a break of that 1538 low from mid March, bears have nothing to look to.
--

Time for lunch.

*VIX update coming...

11am update - bears back in the twilight zone

Once again..all hope seems lost for those in bear land. The snap lower last Friday now seems like months ago, and bulls are filled with hysteria on new expectations of sp'1600s within weeks, if not days. For the bears...this is nothing less than a waking nightmare.


sp'daily5

vix'daily3

Summary

Daily MACD cycles for the indexes/VIX are telling the story..and are simply just ticking higher/lower respectively.

NO sign of a turn yet...and indeed, all else being unchanged, it doesn't look like the bears have any hope of a turn for another 2-3 days at least.

So...this week is now arguably a write off.
--

*With yet another day higher, the sp'weekly (rainbow) chart has just flipped to an outright bullish green candle.

It should be noted the upper bollinger is now @ 1610..which is almost 2% higher from where we currently are.
--

A lousy day...it can't get much worse..right?
-

ohh, thats right..of course it can.....sp'1584...lol, its almost going parabolic like Bitcoin.

This could just be one sub' wave of a much large wave, that even stretches into next week.
--

11.22am...If I'm reading it correcting, the NYSE advance/decliners ratio is a bizarre 0.3..

roughly 3-1 AGAINST the bulls.

Can someone out there confirm this please? I really don't follow that aspect much, and I'm unsure if I'm reading it backwards, although I think I'm right.