10am update - morning melt

A short four day week, and Mr Market is already showing the same kind of action we've seen since the start of the year. The algo-bots remain in full control, and with the regular moderate daily dose of POMO money, we're set for higher levels.


sp'daily5

vix'daily3

Summary

Only the VIX is showing a little sign of bearishness, but its not even 2% higher...so..its arguably noise anyway.
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Metals a touch higher, after last weeks sell off. The dead cat bounce?
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With the weekly/monthly equity charts still battling upward..pressure remains to the upside.


Rising support

Just consider the daily sp' chart, key rising bollinger support is now 1488..and by end of this week will be 1500. So...how can anyone expect sub 1500s any time soon now?
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