12pm update - turning positive

Equity indexes have already started to turn positive, with spike-floor candles for most indexes, having swung from sp'2094 to 2113. The weaker USD is going to continue to help equities across May.. if not also June. Metals are holding gains, Gold +$11. Oil is battling to stay positive, +0.3%.


sp'60min

R2K, daily

Summary

*R2K is a bit of a mixed picture.. having broken the rising trend from October.. but the daily candle is now a pretty bullish spike-floor.
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Overall... the morning down wave (part of the blame is currently the Gulf ship story) appears nothing less than just a tease to the bears.

New highs look due.. esp' in tech... which still looks set to take out the 5132 bubble high. From there.. things become clearer.

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VIX update from Mr T. 


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time for lunch