12pm update - minor weakness

The main indexes are seeing another micro wave to the downside. The sp'1785/80 zone should hold across today, a daily close in the 1770s would still seem rather unlikely. Metals remain weak, and look set for a major snap lower later this week.


sp'60min

SLV, daily'3

Summary

The minor chop continues..on what is not a particularly interesting day.

Notable strength remains in TSLA and UAL.
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VIX update from Mr T.



Traders are indeed starting to load up on Feb/March VIX positions. However, from a decay point of view, that doesn't make much sense to me. They'd probably be able to buy for 50% cheaper in early January.

But hey..I'm not running a giant hedge fund...
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Time for tea!