3pm update - rising support

Regardless of the exact close, the near term outlook offers further upside to the sp'1990s.. if not a test of the giant 2K threshold this Friday. Rising support will be around 1955 at today's close, and 1980 by the Friday close. For now.. equity bears look powerless ahead of the ECB and FOMC meetings.


sp'60min

Summary

Clearly there is threat of weakness ahead of the jobs data, but broadly, it'd now be surprising if the market didn't test 2K in the near term.


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notable strength.. CHK, daily

.. but it remains an obliterated stock.. having imploded from last summer.

.. and we now have news...........

Whether suicide, murder, or just a plain old accident, CHK is now even more complicated.

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You know its a big story if they drag the Cramer on...

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back at the close

2pm update - VIX continues to break new lows

With US equities battling for a marginally positive close, the VIX remains subdued, and continues to melt lower, currently -1.7% @ 17.40. Metals have managed to build gains, with Gold +$10 and Silver +0.8%. Oil is helping the broader market mood, currently u/c in the $34s.


VIX'daily3

Summary

Little to add.. on what is a mere consolidation day before renewed upside.. whether tomorrow or Friday.
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notable weakness...

TVIX, daily

Not surprisingly.. TVIX is breaking a new cycle low, the 6s look due. I suppose 5s are viable, if sp'2035/40s.. with VIX 15s at the time of the next FOMC.
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back at 3pm

1pm update - broadly strong

Despite some moderate weakness, US equities look broadly strong, headed for the sp' 2K threshold, with best bull case upside to the 2020/40 zone by the FOMC of March 16th. VIX remains subdued, having earlier hit 17.51. Metals are holding gains, Gold +$8, but still looks vulnerable into mid March.


sp'daily5b

GLD, daily2

Summary

Little to add.

Considering yesterday's giant gains, the market is arguably in consolidation mode... before the next push to the 2k threshold.
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notable weakness....

INFN, daily

It seems there is no real news.. its just cooling from the 50dma
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back at 2pm