12pm update - tired

Despite a mere four day trading week, I'm frankly... exhausted. The sp' failed to break <1800, and the 1770/60s are now around 100pts lower. It would seem likely that the sp' will break >1897 by early May. VIX is melting lower -4% in the 13.50s. Another week for the bears to forget.


sp'60min

Summary

The broad chop continues, with underlying upside pressure.

I do realise for many out there, there are still hopes of near term downside (even below 1800), but not me. I wish I could, but no. Price action does not support it.


VIX update from Mr T.


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time for tea..or a walk..or something

11am update - sleepy Thursday

US equities continue to see mixed chop, with a minor up wave to the mid sp'1860s. Next upside target is the Fed minutes high of 1872, but that looks out of range today. VIX is utterly crushed -3% in the 13.60s. Metals are melting lower into the long weekend.


sp'60min

Summary

I'd certainly think there is chance of a minor down wave next Monday to 1850/45, but really, that should hold as good support before market makes a play to break new highs into end month.
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Notable weakness in the coal miners, BTU -1.4%

*I remain content to be on the sidelines across the Easter weekend. Will seek to pick up an index-long next Monday.

*Just noticed... UGAZ +10%, more concern over Putin remarks about gas prices?

10am update - minor weak chop

US indexes are already seeing some typical opex chop. Most notable, the VIX -2% in the 13s - a clear 4pts below the 17s we saw Mon/Tuesday. Metals are a little lower, with sig' net weekly declines.


sp'60min

Summary

There is little reason why we won't see continued minor chop for the rest of the day. Certainly is a touch of weakness out there - for a minor down wave.

So long as the bulls can hold the low 1850s, the week looks set to close in a pretty bullish manner.
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I am on the sidelines, kinda tempted to pick up an index-long block, but then...a long weekend ahead, will likely wait until next Monday.

There is no reason why we can't open a little lower next Monday, somewhere in the 1850/45 zone..which should hold before renewed upside.

notable strength: TWTR +3%


10.20am.. chop chop chop...only another 5hrs 40mins to go of this.


10.40am.... new highs..next level is the 1872s (fed minutes spike high).

It sure feels a tiresome day though, and I am not getting involved.

Notable weakness in the coal miners, although that has generally been the case since 2011 !