Safe havens

Sum
VIX and XIV confirmed all clear for stocks 5/19-22. We can talk about a double bottom in VIX or potential divergence in XIV, but basic configuration of VIX below all pivots and XIV above all pivots is bullish for risk assets. 

Other safe havens are showing more signs of caution - TLT above Q2P throughout, and above MayP as well. AGG interesting area to watch with YP, 1HP and D200MA all clustered. GLD decent hold of 1HP & Q2P 5/9-11 lows and back testing MayP. If higher then back above all pivots, and with June pivots in play in a couple of days likely at that status as well.

Summary is that despite TLT, AGG and GLD strength, VIX and XIV are saying all clear for stocks. With DXY weakness, GLD could be an interesting hedge idea if stocks fade or go up to higher resistance levels. 

VIX
Two weekly rejections of 1HP.
Daily chart possible double bottom on Q2S1 - if lower then we might see into 8s for 1HS1.

29 30 VIX W.png
29 31 VIX D.png

XIV
Weekly chart 1HR3 top, but holding YR2 as support bullish.
Daily chart back above all pivots and above YR2 on 5/19.

29 32 XIV W.png
29 33 XIV D.png

TLT
Weekly chart between levels and still well under YP and 1HP.
Daily chart above Q2P all quarter; also now above MayP.
If higher still running into sharply falling D200MA.

29 34 TLT W.png
29 36 TLT D.png

AGG
At YP, 1HP and D200MA all about the same level. Interesting tell for markets. 

29 37 AGG D.png

GLD
Weekly chart lifting from 1HP support.
Daily chart back to MayP, and will likely open above JunP.
2nd time above the still falling D200MA.

29 38 GLD W.png

GDX
Still under 1HP, Q2P and falling D200 makes this not so attractive on the long side.