12pm update - back to chop

Market has returned to minor chop mode, with most indexes back to flat. With the daily/weekly and monthly cycles all outright bullish, there remains threat of the sp'2110/20s before the next minor retrace. Metals remain a touch weak, Gold -$1, whilst Oil is -1.0%


sp'daily5

vix'daily3

Summary

In the bigger picture, this is all minor noise within a starkly strong up trend... and I'm not referring to the rally from 1980... or 1820.

The 'Greek situation' remains a valid issue, but right now, it'd seem even if Greece decided to go its own way (rather unlikely).. the market might see a brief 2-3% washout... and then 'normal service' would resume.

Notable weakness, oil drillers, RIG/SDRL, both lower by around -1.2%
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VIX update from Mr T (due)

*seemingly... not appearing today.

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time for lunch, back at 2pm